After the MIP announcement on 173 steel products in Feb’16, Indian government launched its anti-dumping duty investigations on HRC and CRC in the month of Apr’16.
DGAD (Director General of Anti-Dumping & Allied Duties) had requested the interested parties of both the cases to submit their responses by 20 Jun’16.
SteelMint has heard from its market sources the interested parties have submitted their responses on 20 Jun’16 and the further process on the same is still ongoing. However, chances are high that the anti-dumping duty on HRC and CRC will be announced by the government anytime soon. Also there is likelihood of MIP being continued on other steel products.
This anti-dumping duty investigations has been launched against HRC and CRC imports from China, Japan, Korea, Russia, Brazil and Ukraine and Indonesia.
Indian steel industry which was reeling under immense pressure of cheap imports, received some respite after the MIP imposition in Feb’16. India’s flat steel imports registered a fall of 43% in May’16 against May’15 and stood at 0.45 MnT.
However, current demand for steel in the country is quite sluggish and steel imports especially from China is available at much cheaper rates than the domestic prices. Thus, it is imperative for the government to introduce another trade barrier after MIP in order to protect domestic industry from cheap imports.
Source: JPC
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