Indian steelmakers get some relief as the Directorate General of Safeguards has today recommended a 20% safeguard duty on flat products for 200 days. The DG Safeguards’ recommendations are on the grounds of its preliminary findings, which found that cheaper imports have caused serious injury to domestic steelmakers.
Non-alloy hot-rolled flat products and other alloy steel (600 mm or more) products are under consideration for safeguard duty.
Earlier on 27 Jul’15, SAIL, Essar Steel and JSW Steel filed an application seeking imposition of safeguard duty. Following this, the information presented in the application was verified by on-site visits before a formal investigation began on 7 Sept’15.
The DG Safeguards will now verify the information provided by the steelmakers and hold a public hearing before a final determination of the safeguard duty.
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