India Weighing Additional Levies on Imported Steel
12/08/2015 - India is considering additional trade measures to protect domestic steelmakers, the Reuters news service reported.
According to Reuters, the finance ministry’s directorate general of safeguards has found sufficient evidence to support assertions that imports "have caused or threatening to cause serious injury to the domestic producers.”
The directorate has given foreign producers and other stakeholders 30 days to respond, Reuters said.
Domestic producers Steel Authority of India Ltd., JSW Steel and Essar Steel have complained that surging imports from Indonesia, China, Japan, Russia, Ukraine and South Korea are impacting their bottom lines.
Producers are seeking a four-year safeguard duty on hot rolled flat sheet and plate and the establishment of a minimum import price.
In September, India imposed a temporary, 200-day import tax of 20 percent on hot rolled coils.
The directorate has given foreign producers and other stakeholders 30 days to respond, Reuters said.
Domestic producers Steel Authority of India Ltd., JSW Steel and Essar Steel have complained that surging imports from Indonesia, China, Japan, Russia, Ukraine and South Korea are impacting their bottom lines.
Producers are seeking a four-year safeguard duty on hot rolled flat sheet and plate and the establishment of a minimum import price.
In September, India imposed a temporary, 200-day import tax of 20 percent on hot rolled coils.
