India's Directorate General of Trade Remedies (DGTR) has initiated an anti-dumping investigation against alloy and non-alloy HRCs up to 2,100 mm wide and up to 25 mm thick. The investigation came in response to a request by the Indian Steel Association (ISA), which represents major domestic steel producers such as JSW Steel Limited and ArcelorMittal Nippon Steel India Limited.
The complainants alleged that the products in question, imported from Vietnam, were being sold at dumped prices, causing material injury to the domestic industry. They also stated that the domestic industry faces the risk of further material injury due to these dumped imports and requested the imposition of anti-dumping duties on products from the relevant countries.
The investigation will cover the period from January 1, 2023, to March 31, 2024, and the loss assessment will look at the fiscal years 2020-21, 2021-22 and 2022-23. The products under investigation fall under HS codes 7208, 7211, 7225, and 7226.
The launch of this investigation highlights the ongoing challenges faced by India's steel industry in competing with cheaper imports. If the DGTR finds evidence of dumping and injury, the imposition of anti-dumping duties could create a fair environment for local producers.
As the investigation progresses, it could have significant implications for trade relations between India and Vietnam, particularly if anti-dumping duties are imposed. Such measures could also affect the pricing strategies of other steel-exporting countries considering entering the Indian market.
Comments
No comment yet.