On August 14, 2024, India's Directorate General of Trade Measures (DGTR) initiated a formal anti-dumping investigation against imports of hot rolled steel from Vietnam. The investigation was conducted in response to a request by the Indian Steel Association and two major steel producers, JSW Steel Limited and ArcelorMittal Nippon Steel India Limited.
The investigation targets hot rolled sheet products, alloyed and unalloyed, uncoated or coated, up to 25 mm thick and up to 2100 mm wide. These products are classified under HS codes 7208, 7211, 7225 and 7226.
Indian steel producers claim that Vietnamese-origin HRC steel is being imported to India at dumped prices, causing serious damage to the domestic steel industry. The manufacturers say there is no significant difference between the steel imported from Vietnam and their products in terms of physical and chemical properties, manufacturing processes, technology, functionality or usage. Indian steel producers have suggested imposing anti-dumping duty on HRC steel from Vietnam to protect domestic industries as a precaution against the threat of cheap imports.
According to research, in the fiscal year 2023-2024, India imported a total of 3.55 million tons of hot rolled steel and plate. Of this amount, 620,000 tons (about 20%) were of Vietnamese origin. This figure is a three-fold increase compared to the 22,000 tons imported in the fiscal year 2022-2023
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