The Indian Govt has started to probe on imports of Straight Length Bars & Rods of Alloy Steel originating from China. These products imports under HS code 7214, 7215 & 7228.
The Steel majors namely – JSW Steels, Jayaswal Neco Industries, Sunflag Iron & Steel, Usha Martin Limited, Gerdau Steel India & Vardhman Special Steels Limited have filed an application to Directorate General of Anti-dumping and Allied Duties on rising imports of alloy steel bar & rods specifically from China.
These manufacturers are the large makers of alloy bar & rods and account nearly 50% of India’s total alloy steel production.
In the petition, the producers claimed that due to increase low cost of Chinese imports they are unable to fetch their input cost with their products. Hence, imports has resulted in deterioration of sales, production, capacity utilization, inventories, profits etc.
In the letter it also mentioned that adverse price effects as there is price undercutting and price underselling. The Authority considers that there is sufficient evidence for dire situation for steel industry by cheaper dumping imports to justify initiation of an anti dumping investigation.
Government Notification on Initiation attached
Therefore, the government has decided the present period of investigation – from April 2016 to March 2017. The injury investigation period will however, cover the periods from April 2013 to March 2016.
Finish Long Imports in India Since 2016
| Country | CY 2017 (till July) | Total | CY 2016 | Total | ||||
| HS Code 7214 | HS Code 7215 | HS Code 7228 | HS Code 7214 | HS Code 7215 | HS Code 7228 | |||
| China | 2,117 | 9,194 | 90,381 | 1,01,691 | 15,072 | 3,564 | 2,89,723 | 3,08,360 |
| Singapore | 76,825 | 6 | 161 | 76,992 | 89,731 | 45 | 46 | 89,822 |
| Ukraine | 58,547 | – | 177 | 58,724 | 50,343 | – | 323 | 50,666 |
| Japan | 116 | 394 | 25,750 | 26,261 | 1,873 | 242 | 49,853 | 51,969 |
| Thailand | 24,660 | 54 | 4 | 24,718 | 31,986 | 70 | 19 | 32,075 |
| Germany | 718 | 4,283 | 10,004 | 15,005 | 976 | 4,745 | 18,811 | 24,532 |
| Korea | 3,746 | 460 | 6,881 | 11,087 | 5,123 | 1,041 | 13,537 | 19,702 |
| Others | 3,402 | 6,319 | 18,323 | 28,044 | 5,921 | 10,624 | 22,158 | 38,704 |
| Grand Total | 1,70,131 | 20,710 | 1,51,681 | 3,42,522 | 2,01,027 | 20,332 | 3,94,470 | 6,15,829 |
Quantity in MT
Source: Customs, SteelMint Research
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