New Delhi, April 23 (Inditop) India has imposed anti-dumping duties on certain types of stainless steel that are imported from a host of countries including China and Japan after finding that they were landing at below the normal value.
“The domestic industry had suffered material injury,” said a notification by the Central Board of Customs and Excise. “The injury had been caused by the dumped imports from subject countries,” the board said in the gazette notification.
“The anti-dumping imposed under this notification shall be effective up to and inclusive of the 21st day of October, 2009, and shall be payable in Indian currency.”
Besides China and Japan, the other countries and territories named in the notification are South Korea, European Union, South Africa, Taiwan, Thailand and the US. The duty primarily covers cold-rolled flat steel products.
The anti-dumping duties vary from $12.74 to $2,011 per tonne depending on the type of steel, the country of manufacture, the origin of import and the producer.
Some of the firms named in the notification include Arcelor Mittal from France and Belgium, Lianzhong and Shanxi Taigang from China, Acrinox from Spain and Malaysia, Columbus from South Africa, Posco from South Korea and Yeih United of Taiwan.
With a production of 53 million tonnes anually, India is the fifth largest producer of steel in the world, accounting for a little over 7 percent of the world output. The government has set a target of 110 million tonnes by 2020.