The directorate general of trade remedies (DGTR) that covers India’s trade investigations, has proposed the continuance of anti-dumping (AD) tax on certain steel products imports from China, Malaysia, and Korea for five more years.
The recommendation is intended to protect the domestic market from low-priced incoming shipments. The DGTR proposed the continuation of the duty following its review to provide evidence of ongoing dumping of specific grades of hot rolled stainless steel flat products from the three countries.
The review is also intended to show that the imports tend to enter the Indian market at dumped pricing, which revokes existing duties.
According to media reports, the DGTR has published a notice on the decision which states that the recurring dumping will damage the domestic market if the AD duties are terminated. It has therefore recommended a final AD duty for five more years.
The DGTR suggests levies of $160/mt for China, $255/mt for Malaysia, and $155/mt for Korean goods. The finance ministry will make the ultimate determination to impose these duties.
Previous levies were imposed in June 2015 following an application supplied by Jindal Stainless – Hisar and Jindal Stainless, in support of the domestic market. The stainless-steel producer is requesting an extension of the tax.