India Proposes Anti-Dumping Duty on Cold-Rolled Steel

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Apr. 2 – India has increased the import duty on cold-rolled stainless steel, due to an excessive influx of under-priced stainless steel from China, the United States, the European Union, Japan, South Korea, Taiwan, South Africa and Thailand.

The directorate general of anti-dumping has proposed a maximum levy of US$ 1,823 per ton of cold-rolled steel on imports from China. The proposed duties are slightly lower on imports from other countries. Exporters of cold-rolled steel from China have been found to be under cutting prices to Indian importers in order to sell more during the slump.

An anti-dumping duty is determined by the extent of difference in the price at which the product is exported and the price in the exporting country’s domestic market. Once duties are recommended by the DGAD, the finance ministry officially notifies its implementation, the Economic Times reported.

India implemented 25 new anti-dumping measures during 2008, the most worldwide according to World Bank data. Besides recently implementing duties on Chinese toys, and aluminum products, India has also imposed an anti-dumping duty of up to US$527 per ton on yarns and fabrics imported from China, Thailand and Vietnam to protect its home industry.