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India continues to impose duties

21 May 2017

The Indian government has set anti-dumping duties. The recommendation was given by the Directorate General of anti-dumping and similar rates. In the list to be fees of the goods included 47 categories of hot-rolled steel. The decision to impose tax in respect of the products affected six countries. The list includes Brazil, Japan, Indonesia, China, Russia and Korea. The term of duty will be five years. Its action began with the 8th of August last year. In fact, the approved tax is a minimum import cost. These rates are equivalent to 478−561 USD/tonne CFR.

Withholding tax on these types of products was established by the government of the country in early August 2016. The duration of action was 6 months. In February, 2017 of the unseemly action of duty lasted another 2 months. Now, however, the provisional tax was replaced by the final. The Directorate also recommended that the use of such retrospective duties for cold-rolled products. The proposal was well received. The Indian government has approved the final anti-dumping taxes. The minimum import value was applied to cold-rolled steel, alloy, carbon steel. Producing countries subjected to anti-dumping measures — China, Japan, Korea, and Ukraine.

The minimum value reaches 576 USD/ton CFR. Duties are not imposed on more expensive products. The effect of fees starts from August of last year, its duration will be five years. According to Fitch Ratings since April last year to December 2016 for hot rolled and cold rolled products accounted for 55% of the national import of rolled. Accordingly, it is not surprising imposed restrictions on the importation of the products in question.

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