New Delhi,
Directorate General of Safeguards has initiated investigation on rising imports of MS plates and sheets from China, Korea and Indonesia.
An application had been filed on 28th October, 2015 by Steel Authority of India Limited (SAIL), Essar Steel India Limited, JSW Steel Limited and Jindal Steel & Power Ltd for imposition of Safeguard Duty on imports “Hot Rolled flat sheets and plates of alloy or non alloy steel having nominal thickness less than or equal to 150mm and nominal width of greater than or equal to 600mm.”
HS code under consideration
The product under consideration is classified under Tariff Heading 7208 and 7225 (722540413, 72254019, 72254020, 72254030 and 72259900)
Products not under consideration
By ample clarification, the following are not included in the scope of the product under consideration:
a) Hot rolled flat products of stainless steel
b) API grade steel conforming to X-52 and higher API grades for manufacturing pipes used for pipeline transportation systems in the petroleum and natural gas industries
c) Hot rolled plates for manufacturing boilers and pressure vessels confirming to IS 2002 and IS 2041
d) Silicon electrical steel
e) Cladded steel
f) Quenched and tempered steel
Domestic manufacturers expect minimum import price on steel products
Government sources said the steel ministry has also supported local manufacturers’ demand to impose a minimum floor price for steel imports to curb cheaper imports.
In September, the country imposed the 20 per cent safe guard duty on HRC as the government initiated an investigation into rising imports from China, Japan, South Korea and Russia.
Imports of iron and steel declined slightly to $6.9 billion during April-October period in the current financial year 2015/16 from $7.1 billion a year ago, Commerce and Industry Ministry data show.
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