• Associate Sponsor

Govt imposes anti-dumping duty on steel products

The potential beneficiaries of the anti-dumping duties include SAIL, Tata Steel and JSW Steel.

By: ENS Economic Bureau | New Delhi | Published: May 13, 2017 3:36 am

The government has imposed definitive anti-dumping duties on specified HR coils, plates and sheets from a clutch of companies from half-a-dozen nations, including China, Japan, Korea, Russia and Indonesia.

An official notification issued late on Thursday stated that the duties will be in effect for five years beginning August 8, 2016, (when provisional duties were put on these items). However, industry sources said as landed prices of these items — including freight and customs duty of 12.5 per cent — are now ruling more than the reference prices, $478-561 per tonne, set by the government, the duties won’t be applicable immediately. However, these imports will come to the domestic firms’ help as and when the global prices, which have recently firmed up due to rising input costs, fall.

The potential beneficiaries of the anti-dumping duties include SAIL, Tata Steel and JSW Steel. Domestic steel makers have improved their balance sheets in recent quarters due to the provisional anti-dumping duties and a minimum import prices.

For all the latest Business News, download Indian Express App

  1. No Comments.
Adda