As per the latest updates, India has started a sunset review of its anti-dumping duties on flat hot-rolled stainless steel products from China, Malaysia and South Korea.
India’s Anti-dumping Duty Sunset Review on Stainless Steel HRC
India had imposed the anti-dumping duty on the imports of Hot-rolled Flat products of Stainless Steel-304 Grade in 2016 and the current duties ranges from USD 180/MT to USD 316/MT which are due to expire March 9, 2020, five years after they were first imposed.
An anti-dumping duty is valid for a period of five years from the date of imposition, unless revoked earlier. It can be extended for a further period of five years through a sunset or expiry review investigation conducted in accordance with Article 11.3 of the World Trade Organisation (WTO) Anti-dumping Agreement.
A sunset or expiry review must be initiated before termination of the anti-dumping duty to determine whether the expiry of the duty would be likely to lead to continuation or recurrence of dumping and injury. If the investigating authority concludes that expiry of the duty is likely to lead to continuation or recurrence of dumping and injury, it may extend the duty for a further period of five years.
In 2018, stainless steel products comprised about 8% of India’s overall imports, which amounted to about 8.95 MnT as per the data from the US International Trade Administration showed.
As per India’s customs data, the percentage share of China in India’s flat products stainless steel imports during the time span of 2016-2019 stands at around 37% while that of South Korea stands at 15% and of Malaysia at 4%.
This move by the government to initiate sunset review has come amid the fears that China may divert its excess stainless steel output to India due to its ongoing trade war with U.S.
China’s crude stainless steel output in 2018 rose 3.6% to 26.7 million mt, accounting for about 52.6% of the world’s total output. The sunset review follows the ministry starting an antidumping probe in July into flat-rolled stainless steel products from China, the EU, Hong Kong, Indonesia, Japan, Malaysia, Mexico, Singapore, South Africa, South Korea, Taiwan, Thailand, the UAE, the U.S. and Vietnam.
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