India imposes anti-dumping duty on Chinese steel

The Indian Finance Ministry on September 11 imposed anti-dumping duties on certain types of Chinese steel for a period of five years.

Earlier in September, an Indian steel industry official said New Delhi was monitoring steel imports after industry players raised concerns about possible dumping by Chinese companies.

“Evidence on export prices shows that Chinese exporters are exporting goods to third countries at dumped prices and causing material injury,” the Indian Finance Ministry said after imposing anti-dumping duties.

As of July 2023, China was the second largest steel exporter to India, after South Korea.

Data from the Indian Steel Association (ISA) shows that India imported 570,000 tonnes of Chinese steel in the April-July 2023 period, up 63% year-on-year. Imports from South Korea were 685,000 tonnes, down 4% year-on-year.

According to Mr. Jayanta Roy, senior vice president of rating agency ICRA, India's steel imports from China increased in the first quarter of fiscal 2024 due to import steel prices being 5-8% lower than domestic prices.

In total, India imported 2 million tonnes of finished steel in the April-July period, the highest since 2020 and up 23% from a year earlier. China, the world's top steel producer, mainly exports cold-rolled coils or sheets to India .

Nguyen Tuyet (According to Business Standard, b2bchief.com)

Source: https://www.nguoiduatin.vn/an-do-ap-thue-chong-ban-pha-gia-doi-voi-thep-trung-quoc-a625965.html