India’s Ministry of Steel will shortly recommend a withdrawal of the minimum import price (MIP) for color coated steel products following the imposition of provisional antidumping duty against the imports of product in question from China and European Union, a government official said on Thursday.
The withdrawal of the MIP on color coated steel could come into force well before December 4, 2016, the expiry date of the MIP extension, the official said.
The MIP for color coated steel was fixed at $752/mt. In the event of provisional antidumping duty, the reference price was set at $849/mt, i.e., and the difference between the landed price of imported color coated steel and the reference price will be the applicable duty.