India slaps anti-dumping duty on HR steel from 6 nations including China, Korea

New Delhi, Aug 10 (KNN) India, on Tuesday, slapped anti-dumping duty (ADD) on import of hot-rolled (HR) steel products for six months from six nations including China, Japan and South Korea.

The ADD is USD 474-557 a tonne on import in this category from China, Japan, South Korea, Russia, Brazil and Indonesia.

The move come few days after the Government extended the minimum import price (MIP) norms on 66 select steel products for another few months. However, it removed safeguard duties from 37 others.

The Directorate General of Anti-Dumping (DGAD) recommended imposing ADD till February 7, 2017.

A duty of USD 474 a tonne was imposed on import of HR flat products of alloy or non-alloy steel of a width up to 2,100 mm and thickness up to 25 mm from Korea and Japan.

Korean firms attracting the ADD are Hyundai Steel Company and Posco. Three Japanese companies — JFE Steel Corp, Nippon Steel and Sumitomo Metal Corp — also feature in the list.

A similar ADD was slapped on import from China, the exporter company being Angang Steel Company and Zhangjiagang. Similar import from Indonesia, Russia and Brazil also attracted $474 a tonne duty.

DGAD said in a notification, “ …has come to the provisional conclusion that the subject goods have been exported to India from the subject countries below normal value (and) the domestic industry has suffered material injury.”