NEW DELHI: India may impose anti-dumping duty of up to USD 185.51 per tonne for five years on certain varieties of Chinese steel with a view to guard domestic players from cheap imports of the commodity from the neighbouring Country.
In its anti-dumping investigations, the Directorate General of Trade Remedies (DGTR) has stated that dumped imports of ‘straight length bars and rods of alloy steel’ from China have increased in absolute terms during the period of probe (2016-17). It said that the dumped imports are undercutting the prices of the domestic industry and due to this the domestic industry’s profits, return on capital employed and cash profits have declined during 2016-17.
India’s total imports rose to 2,56,004 tonnes in 2016-17 from 1,32,933 tonnes in 2013-14. The demand of this steel in India too increased to 16,69,653 tonnes in 2016-17 from 15,14,795 tonnes in 2013-14.
The trade gap with China has increased to USD 63.12 billion in 2017-18 from USD 51.11 billion in the previous financial year. The DGTR has also stated it recognises that the imposition of anti-dumping duties might affect the price levels of the product in India. However, fair competition in the market will not be impacted by the imposition of these trade remedy measures.