New Delhi: In a bid to protect indigenous industry, India’s Ministry of Trade has recommended anti-dumping duties ranging from $180 to $306 per tonne for some industrial-grade stainless steel imported from China, Malaysia and South Korea.
At the end of a year-long investigation based on complaints from Jindal Stainless Ltd, the Trade Ministry admitted that it had found the domestic industry suffering “material injury due to such dumped imports”, and that a definitive measure was required to stop it.
“The grades subject to dumping duty can cost between $1,270 and $2,070 per tonne, and are used mainly to make equipment for industries like oil refinery, dairy and railways,” N C Mathur, president of the Indian Stainless Steel Development Association, told Splash on Wednesday.
Another industry that has been adversely affected all over the Indian sub-continent is ship recycling, whose returns from steel scrap have been under constant pressure due to the unchecked import of Chinese steel billets.
The Trade Ministry’s recommendations, made public today, are expected to be implemented by Finance Minister Arun Jaitley within three weeks, and are forecast to stem the flow of steel imports.