India imposes anti-dumping duties on Chinese steel.

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

In early September, an Indian steel industry official said that New Delhi was monitoring steel imports after industry businesses expressed concerns about potential dumping by Chinese companies.

"Export price evidence shows that Chinese exporters are exporting goods to third countries at dumped prices, causing significant damage," the Indian Ministry of Finance stated after imposing anti-dumping duties.

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

Data from the Indian Steel Association (ISA) shows that India imported 570,000 tonnes of Chinese steel between April and July 2023, a 63% increase year-on-year. Imports from South Korea totaled 685,000 tonnes, a 4% decrease year-on-year.

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

In total, India imported 2 million tonnes of finished steel between April and July, the highest amount since 2020 and a 23% increase from a year earlier. China, the world's leading steel producer, primarily exports cold-rolled steel 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