India to impose ADDs on coated steel imports
India's directorate-general of trade remedies (DGTR) has recommended anti-dumping duties (ADDs) of varying rates for imports of aluminium and zinc-coated steel products from China, South Korea and Vietnam.
Duties have been recommended at $28.70-199.50/t for coated steel imports under HS codes of 7210, 7212, 7225 and 7226.
The duties will take effect after the federal government publishes it in India's official gazette, which may take a few days or months.
The DGTR made its recommendations after conducting investigations since 2 April following a complaint by Mumbai-based JSW Steel.
The duties are recommended at varying rates, depending on the level of harm caused by the imports.
The lowest duty of $28.67/t has been recommended for coated imports from South Korea's Dongkuk Steel Mill, while Posco received a recommended duty of $113.49/t. A rate of $122.66/t was recommended for all other South Korean coated imports.
The highest duty of $199.53/t was recommended for all coated imports from Vietnam. Mills that face duties on their exports of coated products to India include Tan Dong, Hoa Sen, Tay Nam Steel, Nam Kim Steel and Zhejiang Huada New Materials.
The DGTR will hear statements from parties connected to the decision on 30 July.
Steel buyers are worried that restricting imports will lead to a rise in domestic prices. "These duties will remove all competition for a couple of major steelmakers monopolising the coated steel market and prices will shoot up," said a Mumbai-based trader.
JSW Steel, Tata Bluescope, Tata-BSL, Posco Maharashtra and Essar Steel are among the major producers of coated steel in India.
The ADDs will help curb low-quality coated product imports. It is difficult to judge the quality of coated products at a glance, said a Delhi-based trader.
Domestic integrated mills have also sought an additional 25pc safeguard duty on several steel products along the lines of the US Section 232 import tariff imposed on steel imports last year. Market participants expect a decision on this soon.
source: Argus Media
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