To give a fillip to the Steel sector the government will probably impose anti-dumping duty on 19 colour – coated steel products with a view to protect the domestic manufacturers. The govt. presently has imposed MIP on the 19 colour coated steel items till Feb 4th.
“The MIP was on 173 items. We have brought it down to 19. Rest of them, we have converted into anti-dumping. Anti-dumping will continue as the evidences are there,” Steel Secretary Aruna Sharma said in an interview. She said that anti-dumping investigation is already in the process on these 19 products.
“These 19 should not circumvent with it therefore we have put it (MIP) at this stage. On that also, we will move on to the anti-dumping route. Before February it should happen and that the government was not against imports but was against dumping,” the secretary said.
The 19 products include semi-finished products of iron or non-alloyed steel, flat-rolled products of different widths, bars and rods.
For the first time, MIP was imposed in February last year on 173 items. But, later on the numbers of products were reduced.
Steel makers had urged the government to extend MIP on certain products, saying its imposition has marginally improved the industry’s viability after a long period of subdued prices.
Accelerating imports at higher prices from steel surplus countries like China, Japan and Korea have been a major concern area for the domestic industry since September 2014.
As per Indian Steel Association “Post the imposition of MIP in February, the industry has been able to marginally improve viability after a long period of subdued prices and eroded profit margins”.
~Sourced~
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