After public hearing on 10 Feb’16 on safeguard duty case on HR plates/sheets, DG Safeguards have asked petitioners to submit their response by 1 Mar’ 16.
Public hearing on safeguard duty case on HR Plates and sheets conducted on 10 Feb’16 faced strong opposition from affected parties which includes foreign nations/delegation/embassies and importers/users and users associations.
In the representation made to DG Safeguards, affected parties raised their concern as how after recent MIP imposition on plates, additional safeguard duty will badly affect the user industry depending upon imports.
As a next step, DG Safeguards have requested petitioners to reciprocate to the points raised in public hearing by 1 Mar’16.
“With MIP news there are already negative sentiments in the user market. Now if safeguard duty is imposed on plates then the road ahead for user industry will be very tough”, quoted a BIMA member.
On 28 Oct’ 15, a petition was filed by SAIL, Essar Steel, JSW Steel and Jindal Steel & Power Ltd for imposition of safeguard duty on imports of “Hot Rolled flat sheets and plates (excluding hot rolled flat products in coil form) 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”.
The product under consideration is classified under Tariff Heading 7208 and 7225 (722540413, 72254019, 72254020, 72254030 and 72259900).
Updates on Safeguard duty case on HRC
As per market sources, the final decision on provisional safeguard duty which was imposed on HRC products on 14 Sep’15 for 200 days is likely to be announced within 10-12 days.
While the user industry is hoping that safeguard duty on HRC shall be discontinued, Indian steel majors are in favor of continuing the duty in order to give double protection (along with MIP) to domestic steel industry from cheap imports.
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