Anti-dumping duties on steel products from India are increasing
According to the recent news, anti-dumping duty orders on the steel products imported from
India are increasing. US Department of Commerce (DOC) has recently issued anti-dumping/countervailing investigations on pre-stressed concrete steel
wire imported from five Indian companies, namely Tata Iron and Steel Company Ltd, Tata
Stainless Steel Ltd, Indore
Wire Company Ltd, Patil Group of Industries and Usha Martin Industries.
Meanwhile,
Brazil has also issued similar investigations on the imports of certain
stainless steel bars as many as eleven Indian companies. According to the latest reports, Brazilian steel industry petitioned the government against the imports of
stainless steel bars imported from eleven Indian mills. The investigations are in pre-initiation stage.
The officials state that due to anti-dumping and countervailing duties,
India's export of steel items to US,
Brazil and EU has decreased by huge amounts. According to the statistics, total exports of hot rolled products to US fell from $182million in 1999-2000 to $81.6 million in 2001-2002. Similarly, exports of hot rolled steel in coils to the EU have dropped from $25.6 million in 1999-2000 to $6.3 million in 2000-2001 and to $0.07 million in 2001-2002.