Posted on 06 Aug 2024
The European Commission (EC) plans to launch an anti-dumping (AD) investigation against Indian hot rolled coil imports, along with select other countries, soon. This investigation is expected to be confirmed by Tuesday, sources tell Kallanish.
A Europe-based steel market participant notes the probe will be decided this week, but the impact of the investigation will be seen by February or March 2025. The investigation is expected to be confirmed by Tuesday, he adds.
Indian market participants noted they are aware of the move, but are awaiting an official notification from the bloc, to comment on how this could impact India. Another source estimates an AD probe by the bloc is unlikely to significantly impact Indian HRC exports as Indian exports to the region have been limited during the April-June quarter anyway.
The Indian Steel Association (ISA), which is India’s domestic steelmakers body, did not respond to a request for Kallanish comment on Monday by deadline. The Indian Ministry of Steel and Ministry of Commerce and Industry did not respond to a comment request either.
Indian-origin HRC imports to the EU stood at 226,200 tonnes as of 5 August, already exhausting 75% of the available third-quarter safeguard quota, according to Eurometal data.
Last week, the EC notified the authorities in India, Japan and Vietnam that it was launching an AD investigation. The move comes after it received a complaint requesting an initiation AD probe into HRC imports in the region, a source said.
In July, India reportedly rejected the EU’s proposal for higher taxes on carbon-producing industries as part of the Carbon Border Adjustment Mechanism (CBAM) (see Kallanish Passim).
AD probes have been gaining momentum in recent weeks. In July, India’s steel ministry reportedly called on the trade ministry to investigate cheaper steel imports from China- and Vietnam- origin imports. The news came amidst Vietnam launching an investigation against Chinese and Indian HRC (see Kallanish passim).
Source:Kallanish
