Economic & Industrial

India Initiates Anti-dumping Duty Investigation on Certain Type of Steel Imports from China, Brazil & Germany

India Initiates Anti-dumping Duty Investigation on Certain Type of Steel Imports from China, Brazil & Germany
Mining News Pro - According to the latest reports, India has initiated an anti-dumping probe on a certain type of steel imports coming from Brazil, China and Germany following a complaint from a domestic player.
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According to Mining News Pro - According to the latest reports, India has initiated an anti-dumping probe on a certain type of steel imports coming from Brazil, China and Germany following a complaint from a domestic player.

DGTR (Directorate General of Trade Remedies) which is an investigation arm of India’s commerce ministry has stated that there is evidence of injury to the domestic industry caused by the dumping of ‘High-speed steel of non-cobalt grade’ from above mentioned three counties. This steel is used for making high-speed cutting tools.

The complaint for the anti-dumping duty (ADD) was filed by Graphite India which is a major producer of the subject goods accounting for 83% of India’s total production.

The product under consideration for the purpose of present investigation is "High-Speed Steel of Non-Cobalt Grade having three elements i.e., Molybdenum, Tungsten and Vanadium, out of which combination of Tungsten and Molybdenum should be between 4%-11.5% and Vanadium 3.5% maximum. Carbon should be between 0.7 %-1.3% and Chromium between 3.5%-4.6%.

The subject products are classified under Chapter Heading 72 “Iron and Steel” of the Customs. The classification at the 8-digit level is majorly under 72281010 and 72281090. However, goods are coming under other heads of 7228 also. It is clarified that the HS codes are only indicative and the product description shall prevail in all circumstances.

The period of investigation (POI) for the purpose of the present investigation is from 1st April 2017 to 31st March 2018 (12 months). However, the injury investigation period will cover the data of the previous three years, i.e. April 2014 to March-2015, April 2015 to March 2016, April 2016 to March-2017 and POI.

"There is prima facie evidence of injury to the domestic industry caused by dumped imports from subject countries to justify initiation of an anti-dumping investigation," DGTR has said in a notification.

It has also been mentioned that “Any other interested party may also make its submissions relevant to the investigation in the prescribed form and manner within 40 days from the date of publication of this Notification. If no information is received within the prescribed time limit or the information received is incomplete, the Authority may record its findings on the basis of the facts available on record in accordance with the AD Rules.”

In the probe, the directorate would determine the existence, degree and effect of any alleged dumping. If established that dumping has caused material injury to domestic players, the directorate would recommend imposition of anti-dumping duty on the imports of the subject products from these nations.

Anti-dumping duties are levied to provide a level playing field to local industry by guarding against cheap below-cost imports. The duty is aimed at ensuring fair trading practices and creating a level playing field for domestic producers vis-a-vis foreign producers and exporters.

 


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