The Director General of Trade Remedies (DGTR) has recommended extending anti-dumping duties on certain categories of stainless steel products imported from China, Malaysia and South Korea for up to five years.
The size of the duty depends on the product category – hot-rolled stainless steel, as well as on the country and ranges from $ 155 to $ 255 per ton. The last decision on the introduction of the duty will be made by the Ministry of Finance.
“Having concluded that there is a possibility of continuation /repetition of dumping and harm if the existing anti-dumping duties are allowed to be terminated, the authorities are of the opinion that a continuation of the import duty is required … a final anti-dumping duty … it is recommended to sentence to five years,” in the official message.
In 2015, the government imposed anti-dumping measures on these products for five years following a statement on behalf of Jindal Stainless Ltd and Jinal Stainless (Hisar) Ltd. However, the fee was higher. The latest order came against the backdrop of a request from the company to extend the service life.
Anti-dumping duties are a measure taken by countries to end the distorting effects of dumping of goods on international trade. The expansion of the trade measure is likely to support domestic steel producers, who are under pressure from cheap imports, and may make them less competitive, affecting their profitability.