The Treasury Department imposed anti-dumping duties of $ 180 to $ 316 a tonne on some industrial stainless steels imported from China, Malaysia and South Korea in an attempt to stem surging imports and protect domestic industries.
The decision was made after the Ministry of Commerce announced that the domestic industry was suffering "material damage due to dumping imports" and that it must be stopped. Anti-dumping duties will be effective for five years, the Treasury Department said in a statement.
The move is necessary to preserve a domestic industry that has been hit hard, the president of the Indian Stainless Steel Development Association said. India consumes about 1 million tons of this type of stainless steel, of which over 40 percent is imported, mainly from China.
Metallurgists from Asia and Europe are also facing growing pressure from imports of cheap steel from Russia and Ukraine, which benefit from weaker currencies, which, along with China, are flooding global markets with their products.
Many steel companies in India such as Tata Steel, JSW Steel and Kalyani Steels are reporting lower profits.
India introduces anti-dumping duties on stainless steel imports
|
Azovpromstal® 8 June 2015 г. 11:29 |
