Domestic steel companies to urge Centre for anti-dumping duty revision
Anti-dumping duties are taken to ensure fair trade and provide a level-playing field to the domestic steel industry.
Primary domestic steel producers will ask the government for a mid-term review of the anti-dumping duty on hot- and cold-rolled steel products in the wake of a sharp rise in raw material prices since the duty was imposed in August 2016.
“The raw material price increase from August 2016 to March 2018 has been significant and India needs to correct this gap by revising the duty upward to the extent that it reflects the cost push,” one of the petitioners of anti-dumping told Business Standard on Monday.
Essar Steel, state-owned Steel Authority of India, and Sajjan Jindal-led JSW Steel had jointly filed a petition to the government, seeking for relief from cheap imports being dumped by neighboring countries such as Korea, Japan, China, Brazil, Russia, and Ukraine. The application was also supported by Bhushan Steel and Tata Steel.
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