The Indian Stainless Steel Development Association (ISSDA) applauded the Indian government’s decision to impose anti-dumping duty on Hot Rolled (HR) flat products of stainless steel Grade 304 with all its variants. The government has imposed anti-dumping duty on all HR flat products of stainless steel of Grade 304 originating from China at USD 309/MT, Malaysia at USD 316/MT and Korea at USD 180/MT. “It’s a welcome move and a necessary one to save the domestic industry. This measure will definitely give some respite to the industry”, said N C Mathur, president – ISSDA.
The Ministry of Finance notification acknowledged the findings of the Directorate General of Anti-Dumping (DGAD) that HR 304 grade stainless steel flat products were being dumped from China, Korea and Malaysia. DGAD has pointed in its findings that the domestic industry has suffered both material injury in volume and pricing as a result of dumping. ISSDA reinstated its stand that domestic stainless steel industry is well equipped to produce all HR 304 grade variants and imports were result of dumping by China, Korea and Malaysia.
ISSDA also reiterated its stand that significant dumping of Cold Rolled (CR) stainless steel flat products should also be noted by the government and anti-dumping duty on CR stainless steel flat products should be announced by the government at the earliest.