New Delhi, Dec 11 (IANS) The Indian government on Thursday imposed anti-dumping duty, ranging from five percent to a whopping 57 percent, on cold rolled steel from China, South Africa, Taiwan, Thailand and the US to curb its imports.
According to an official notification, anti-dumping duty of 9.47 percent has been levied on stainless steel from the US, 29.41 to 52.56 percent from European Union (EU) and 5.39 percent from Thailand. Import from China will attract highest levy — 57.39 percent.
“Though the volume of imports has declined after anti-dumping duties were imposed five years ago in 2010, dumping of cold rolled flat products has been continuing from many producing countries,” the notification said.
The dumping of imported steel also affected the domestic industry’s production and sales and diversion of their products to end-users.
The latest attempt comes in wake of the 20 percent import tax failed to check cheaper imports, resulting in losses to domestic producers such as the state-run Steel Authority of India Ltd.