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Anti-dumping probe affects stainless steel end users in Maharashtra

Anti-dumping probe affects stainless steel end users in Maharashtra
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First Published: Sun, Dec 21 2008. 06 50 PM IST
Updated: Sun, Dec 21 2008. 06 50 PM IST
New Delhi: The Process Plant and Machinery Association of India has said that the anti-dumping probe initiated by the Commerce Ministry against import of stainless steel from European Union is affecting the end users of the alloy in Maharashtra.
The anti-dumping probe has already taken its toll on the end user’s of stainless steel in Maharastra, as it’s industry consumes more than 50% of stainless steel in the country, the association said in a statement.
According to association secretary V.P. Ramachandran, the probe has no meaning as the Indian companies are importing those grades and sizes of stainless steel which do not directly affect the domestic manufacturers.
“Above all, the industry consuming imported stainless steel is already reeling under the impact of depreciation of the value of the rupee,” he added.
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First Published: Sun, Dec 21 2008. 06 50 PM IST