India has extended the imposition of a five-year anti-dumping duty on specific Chinese steel imports, as per a Ministry of Finance gazette notification. The duty, set at $613 per tonne, applies to flat-base steel wheels imported from China, a measure initially introduced in 2018. The Directorate General of Trade Remedies (DGTR) has now recommended its continuation, with the justification that it ensures a level playing field in the Indian market and compensates for price disparities caused by dumping, without adversely affecting domestic industry.
The primary objective of imposing this anti-dumping duty on Chinese steel is to curtail steel imports from China, given that recent government data indicates China as the second-largest steel exporter to India, trailing only South Korea. From April to July 2023, China’s steel sales to India reached 0.6 million metric tons, marking a substantial 62% increase compared to the same period the previous year. Overall, India’s finished steel imports during this time surged to 2 million metric tons, the highest since 2020 and a notable 23% rise from the preceding year. Amid concerns from the domestic steel industry regarding potential dumping by Chinese sellers, India’s steel secretary, Nagendra Nath Sinha, has been closely monitoring the steel import situation since September 4th.
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