MUMBAI, June 23 (Reuters) - India has imposed a duty of 14 percent on imports of aluminium flat rolled products from China, the finance ministry said in a statement on Tuesday.
The duty would be retrospective to March 23 and would be in place till March 22, 2010, the ministry said.
Imports from China had threatened to cause disruption to the domestic industry, the ministry said.
The statement also said a safeguard duty, a duty applied by India to goods from a specific origin, of 30 percent would be imposed on aluminium foils being imported from China with effect from March 23 to March 22 in 2010.
The government's move is likely to help value-added aluminium producers more than primary metal producers, said an analyst and a company head.
"It would benefit Hindalco (HALC.BO) and Sterlite Industries (STRL.BO) significantly but imports from other countries are also increasing," said an analyst in a brokerage who did not want to be named.
The chairman of state-run National Aluminium Co Ltd (NALCO) (NALU.BO) C.R. Pradhan said their demand for a 15 percent safeguard duty on primary aluminium still held good.
"Our big customers have started importing," Pradhan told Reuters. "It is coming from many locations."
India likely imported more than 300,000 tonnes of aluminium in the last year ended March 31,
Source : REUTERS