Govt Prob­ing Steel Dump­ing by China and Other Na­tions

The Economic Times - - Companies - Our Bu­reau

Kolkata: In­dia is in­ves­ti­gat­ing dump­ing of steel by China, Ja­pan, Korea, Rus­sia, Brazil and In­done­sia on the ba­sis of pe­ti­tions filed by In­dian steel ma­jors.

The Direc­torate Gen­eral of Anti-Dump­ing & Al­lied Du­ties (DGAD), which func­tions un­der the com­merce min­istry, is in­ves­ti­gat­ing the mat­ter on com­plaints by Steel Au­thor­ity of In­dia (SAIL), JSW Steel and Es­sar Steel In­dia and sup­ported by Tata Steel and Jin­dal Steel & Power.

The probe cov­ers prod­ucts such as hot-rolled coils, sheets and plates, in­clud­ing plate mill plates.

Prima-fa­cie, there is suf­fi­cient ev­i­dence of dump­ing of these steel prod­ucts by the six coun­tries, which has caused sig­nif­i­cant ‘in­jury’ to the do­mes­tic steel in­dus­try, the DGAD said in an of­fi­cial no­ti­fi­ca­tion dated April 11.

The probe for the pe­riod be­tween July and De­cem­ber 2015 cov­ers prod­ucts, in­clud­ing those used in the au­to­mo­tive in­dus­try, oil and gas pipe­lines, cold-rolling, pipe and tube man­u­fac­tur­ing, in­fra­struc­ture and con­struc­tion, gen­eral engi­neer­ing & fab­ri­ca­tion, earth-mov­ing & min­ing equip­ment, stor­age tanks, low-pres­sure heaters and cap­i­tal goods, in­clud­ing plant and process equip­ment for ce­ment and fer­tilis­ers.

“Our steel in­dus­try is in a crit­i­cal phase with mar­gins and prof­itabil­ity un­der se­vere strain pri­mar­ily due to dump­ing at preda­tory prices into In­dia,” said Jayant Acharya, di­rec­tor (com­mer­cial & mar­ket­ing) at JSW Steel. “Such un­fair trade af­fects our vi­a­bil­ity like it has af­fected steel in­dus­try in the rest of the world. While the In­dian steel sec­tor is com­pet­i­tive, we need ad­e­quate pro­tec­tion from those pro­duc­ers/coun­tries which get state sub­sidy to pro­duce steel.”

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