Indian Commerce Ministry Recommends Provisional Anti-Dumping Duty on Imports of Wire Rod From China

Wire rod is a part of minimum import price (MIP) 66 items which will lapse on October 4

Director General of Anti Dumping (DGAD) in its recommendation letter dated 27 Sep’16 said that anti-dumping duty should be levied on wire rod import from China PR at a price below landed cost of USD 538 per tone.

Duty will be calculated on the landed cost of import minus USD 538/MT.

Investigations were initiated on imports of wire rods from China in June 2016. SAIL , RINL, Usha Martin and JSW filed a case for wire rod anti-dumping duty. Anti-dumping duty will be implemented once the Central Board of Excise and Customs (CBEC) notifies DGAD recommendations.

As per the investigation finding the injury margin is 60-70% imposed on all Chinese exporters except Minmetals. Minmetals Yingkou Medium Plate Co Ltd has injury margin 35-45% being the lowest margin issued.

India Govt May not extend MIP

In an exclusive interview with Steel 360, Aruna Sharma, Steel Secretary shared that “Government is unlikely to further extend the minimum import price (MIP) on 66 items beyond October 4 as major injury items could be covered under anti-dumping duty”