Stainless steel body says anti-dumping duty will have negligible impact
15 December 2015
Indian Stainless Steel Development Association (ISSDA), a leading stainless steel industry body, has said the recent imposition of Anti Dumping Duty (ADD) on Cold Rolled (CR) flat products will have a negligible impact as the import trend has now shifted to higher widths. It was reacting to government decision to impose ADD on CR flat products of widths between 600-1250 mm for five years after the sunset review from China, Japan, South Korea, Malaysia, South Africa, Malaysia, Taiwan, EU and USA.
"Impact of Anti Dumping Duty will be negligible as the import trend has now shifted to higher widths and the same has been highlighted in the customs notification as well as the final findings of the Directorate General of Anti Dumping & Allied Duties (DGAD)," ISSDA said in a statement on Monday.
The duty ranges between 5 per cent and 57 per cent and will be imposed on countries including China, the US, South Africa, Thailand and Taiwan, the finance ministry said in a notification on Friday. While a 9.47 per cent duty has been levied on cold rolled flat products of stainless steel from the US, products from the EU will attract a duty of 29.41-52.56 per cent while those from Thailand will be charged at 5.39 per cent. The highest duty of 57.39 per cent has been levied on cold-rolled stainless steel items from China.
This follows a 20 per cent safeguard duty imposed on imports of specific steel items in September for 200 days. In June, the government levied anti-dumping duty on hot rolled stainless steel items from China, Malaysia and Korea. The duty ranges between $180 and $316 per tonne and will be valid for five years.