India has imposed a provisional $29-$200 a tonne anti-dumping duty to rein in burgeoning and predatory imports of galvalume steel products from China, Vietnam and Korea which were causing material injury to the domestic industry. The duty will remain in effect for six months.
JSW Steel Coated Products, a unit of Sajjan Jindal-led JSW Steel, had moved a petition before the Directorate General of Trade Remedies (DGTR) for imposition of the trade remedial measure on imports of the high-end aluminium and zinc coated flat products (galvalume) that find application in roofing purposes to making auto parts.
Following investigations, the DGTR found that exporters from these three countries were sending galvalume to India “below their normal values”, causing “material injury” to the domestic producers like JSW Steel, Tata Steel and Bhushan Power and Steel among others.
“There is a significant increase in imports of subject goods from subject countries in absolute terms as well as in relation to production and consumption in India. Material injury has been caused by the dumped imports of subject goods from subject countries,” the DGTR found in its preliminary findings.
In its petition, JSW Steel Coated Products had submitted that imports of these products galloped by more than 11 times from 17,695 tonnes in 2015-16 to 2,02,711 tonnes during the investigation period — October 2017 to September 2018.
Source: financialexpress.com