Indian government has asked National Manufacturing Competitiveness Council (NMCC) to examine if increasing imports of raw material for stainless steel products from china are causing market disruption on the other hand Ministry of Finance has already started investigating in it apart from NMCC, who has asked Standard Board of Safeguards to hold a meeting on November 15.
“The Board has requested NMCC to carry out a study on sales invoices and examine their impact on the competitiveness of the user industry of the product under consideration,” according to an official document. Board has also sought clarifications from Directorate General Safeguards for quantum of duty proposed to be imposed, total production of the product under consideration and if scrap can be used for production of hot-rolled steel.
Jindal Stainless, seeking protection for domestic producers, had recently complained to the DGS that increased imports of Hot Rolled Flat Products of Stainless Steel of 300 series from China are causing market disruption in India.
After examining the complaint, the DGS found that increased imports of hot rolled flat products of stainless steel have caused and are threatening to cause market disruption to domestic producers. “And as such it has been decided to initiate an investigation,” DGS said in a notice.
Jindal Stainless in a complaint said as domestic production increased due to setting up of a new unit in Odisha (which started functioning from July, 2011), the surge in imports were greater than the increase in production in 2011-12 compared to 2009-10.
However, inventories witnessed a massive surge from 4,257 MT in 2009-10 to 15,498 MT in 2011-12, “reflecting the difficulties of the domestic industry,” JSW further added.
On the other hand Imports from China have increased amazingly from 5,364 MT in 2009-10 to reach 36,183 MT in 2011-12.
(Sourced)
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