As per the market sources, DGAD has recommended anti-dumping duty on import of ‘Colour coated/Pre-painted flat products’ originating from China.
In the month of Jun’16, Indian steel majors, JSW Steel Coated Products Limited (JSCPL) and Essar Steel India Ltd (ESIL) have filed a petition with DGAD for the imposition of Anti-dumping duty on colour coated steel from China. Reportedly, DGAD started the investigation on the same on 29 Jun’16.
The product under consideration (PUC) is covered under the purview of MIP since Feb’16 which was likely to expire in the first week of Dec’16.
It is being reported that the NIP (Non-Injurious Price) decided for import of coated steel is USD 849/MT. As per our analysis, this means that the coated steel imported below USD 849/MT will attract an anti-dumping duty of difference between the NIP and imported price (CNF+Customs duty).
For eg: If coated steel is being imported into India from China at USD 700/MT, CNF India. Then the anti-dumping duty applicable will be USD 61/MT; a difference between USD 849 and USD 788 (USD 700+ 12.5% customs duty on 700).
The official notification on the same from DGAD is awaited.
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