No anti-dumping duty on India’s steel-threaded rod.

An independent US quasi-judicial federal agency has ruled out against imposing any anti-dumping duty against certain categories of steel threaded rod from India.

The ruling by United States International Trade Commission (USITC) came on Wednesday, a month after the US department of commerce determined that Indian steel threaded rod was being dumped in the country and sought imposition of anti-dumping duty against it.

“The USITC on Thursday determined that a US industry is neither materially injured nor threatened with material injury by reason of imports of certain steel threaded rod from India that the US department of commerce has determined are subsidised and sold in the United States at less than fair value,” a media statement said.

The USITC chairman Meredith M Broadbent, vice-chairman Dean A Pinkert and commissioners Irving A Williamson, David Johanson and F Scott Kieff voted in the negative.

Commissioner Rhonda K Schmidtlein did not participate in these investigations. “As a result of the USITC's negative determinations, no anti-dumping and countervailing duty orders will be issued,” the statement said.

In 2013, imports of steel threaded rod from India were valued at an estimated $19 million. In July, the department of commerce determined that imports of steel threaded rod from India had been sold in the US at dumping margins ranging from 16.74% to 119.87 %.

It also determined that imports of steel threaded rod from India have received counter-vailable subsidies ranging from 8.61% to 39.46%. In the anti-dumping investigation, mandatory respondents Mangal Steel Enterprises and Babu Exports received final dumping margins of 16.74% and 119. 87%, respectively.

Source : financialexpress.com