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The Ministry of Finance has imposed anti-dumping duties ranging from $44.89 to $185.51 per tonne for five years on certain Chinese steel products. The levies have been introduced to guard domestic players from cheap imports of straight length bars and rods of alloy steel.
The Department of Revenue has imposed these duties on the recommendations of the Directorate-General of Trade Remedies (DGTR).
JSW Steel, Sunflag Iron & Steel, Usha Martin, Gerdau Steel India, Vardhman Special Steels and Jayaswal Neco Industries had jointly filed an application before the DGTR for initiation of investigations and levying of anti-dumping duties on these steel products.
After its investigation, the Directorate-General of Allied Duties has concluded that straight length bars and rods of alloy steel have been exported to India from China below the normal value. “The domestic industry has suffered material injury on account of subject (straight length bars and rods of alloy steel) imports from the subject country (China). The injury has been caused by the dumped import of the subject goods and from the subject country,” a notification from the Department of Revenue said.
These Chinese imports have increased in absolute terms during the period of probe (2016-17).
The products are used in forging, automobiles, auto components, crank shaft, springs, gears, fasteners, cement plants, power plants, turbines, ship-building, and railways, among others.
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