Indian government imposes ‘anti-dumping’ duties on high-end stainless steel
In its endeavor to protect domestic industry from a gush of cheap imports from China, Thailand, Japan, and the US, the Indian government has provisionally imposed 'anti-dumping' duty on some of the high-end stainless steel products. To be effective for a six-month period, up to October 21, 2009, the anti-dumping duty would be payable in Indian rupees.
Specifying the duty imposed, the Finance Ministry notification said that, as per the recommendation of the DGAD - Directorate General of Anti-dumping and Allied Duties - the charge will range between $12.74 and $1,823 per tonne, and will be imposed on import of cold-rolled flat stainless products.
The variability in the anti-dumping duty results from the differences in the type of steel imported, the manufacturing country, the origin of import and the producer of the products. The firms to be affected by the duty include Lianzhong and Shanxi Taigang from China; Arcelor Mittal from France and Belgium; Columbus from South Africa; Acrinox from Spain and Malaysia; Yeih United of Taiwan; and Posco from South Korea.
Saying that the duties have been imposed since stainless steel products' imports were landing at below the normal value, the Central Board of Customs and Excise said in a gazette notification: "The domestic industry had suffered material injury. The injury had been caused by the dumped imports from subject countries."