Posted on 11 Apr 2023
Due to increasing steel imports, the Indian Steel Association (ISA) has requested government intervention and sought a reimposition of anti-dumping duties on flat steel and wire rods, the association informs Kallanish.
"We request the steel ministry to support the industry by writing to the Ministry of Finance to reinstate anti-dumping duties on hot rolled flat steel products, cold-rolled flat steel products, colour coated flat steel products, and wire rods of alloy or non-alloy steel," ISA said in a letter addressed to the steel secretary.
"Implementation of price-based anti-dumping duty on four steel products would help in preventing further declines in import prices and would stop exporters from gradually wiping out the domestic steel industry by dictating prices," the letter stated.
The anti-dumping duty on hot-rolled and cold-rolled flat steel products expired on 15 December 2021 and the duties on colour-coated flat steel products and wire rods expired in January 2022. The anti-dumping duty covered offerings coming in from China, Japan, Korea, Russia, Brazil, Indonesia, Ukraine, and the European Union.
According to the steel ministry’s data, steel imports in India spiked 30% to 6 million tonnes in the fiscal year ended 31 March 2023 (FY23).
Source:Kallanish
