The Directorate General of Anti Dumping (DGAD), which comes under ministry of commerce, has imposed definitive anti-dumping duty on Hot Rolled Coils (HRC) and MS Plates from China PR, Japan, Korea RP, Ukraine, Russia, Brazil and Indonesia.
The anti dumping duty imposed shall be effective for a period of five years from the date of imposition of the provisional anti dumping duty i.e. 08 Aug’16. Provided that the said anti-dumping duty shall not be levied for the period commencing from the date of the lapse of the provisional anti-dumping duty, that is, the 8th Apr’17 upto the publication of this notification in the Official Gazette.
The anti-dumping duty imposed is similar to the levels recommended. For HRC at USD 489/MT and USD 561/MT for HR plates & sheets. However it is to be noted that duty imposed on import of HRC from Hyundai Steel Company is still at USD 478/MT.
Link to final anti dumping duty notification
Indian government had imposed provisional anti dumping duty on HR and CR coil products in Aug’16 for a period of six months.
On 08 Feb’17, govt. notified that it has extended anti-dumping duty on Hot rolled and Cold rolled flat products of alloy or non-alloy steel products for a period of two more months. On 10th Apr’17, DGAD recommended definitive Anti-Dumping duty and raised Non-Injurious Price (NIP) marginally.
In case of Hot Rolled products of alloy or non-alloy steel, provisional anti-dumping duty exists on products exported from China PR, Japan, Korea RP, Russia, Brazil and Indonesia.
Impact of Indian flat steel industry – It is to be noted that flat steel prices have declined sharply in global market since end of Feb’17, making imports cheaper. As per market sources, many importers have booked significant quantities of HRC import to India for May-Jun deliveries. Thus, at current price levels it seems that levied anti-dumping duty looks less effective to Indian domestic steel industry.
However, cheaper flat steel imports may pressurize domestic flat steel prices in India.
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