Anti-dumping duty on stainless steel tubes from China
The recommended anti-dumping duty ranges from $114 per tonne to $3,801 per tonne of stainless pipe and tubes of different grades.
The Centre has imposed anti-dumping duty on stainless steel seamless tubes and pipes imported from China for five years to remove “injury” to the domestic industry.
“The antidumping duty imposed under this notification shall be effective for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette, and shall be payable in Indian currency,” according to a government notification.
The recommended anti-dumping duty ranges from $114 per tonne to $3,801 per tonne of stainless pipe and tubes of different grades. Effectively, the duty is expected to raise the price of such products and prevent their unwanted use in the market at the cost of domestic stainless steel producers of similar grade and make.
The Directorate General of Trade Remedies (DGTR) in the Commerce Ministry in September recommended the duty on imports of stainless-steel seamless tubes and pipes from China after concluding in its probe that the products are being dumped in India—that is sold for prices that are lower than the prices in the domestic Chinese market—which impacts the Indian industry.
These products were sold at prices that were as low as those of the raw material used to make them, leaving little room for domestic players in the market.
DGTR initiated the investigation after Chandan Steel Ltd, Tubacex Prakash India Pvt Ltd and Welspun Specialty Solutions Ltd sought anti-dumping probe.“The imposition of anti dumping duty on Chinese companies is a welcome move and will be in public interest. Indian manufacturers are capable to cater to the domestic demands in this segment. This will not only make the idle capacities operative, but will also bring revenue to the exchequer, leave aside employment,” said Rajamani Krishnamurti, president, the Indian Stainless Steel Development Association (ISSDA).
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First Published:22 Dec 2022, 12:33 AM IST
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