India launches AD investigation of ex-China 300 series HR stainless steel

India's Director General of Safeguards (DGS), which is part of the country's Ministry of Finance, has initiated an antidumping (AD) duty investigation regarding imports of hot rolled flat products of 300 series stainless steel from China, according to the notice issued by the DGS.
 
The imports from China of the products in question have increased sevenfold from 5,364 mt during FY 2009-10 to 36,183 mt in FY 2011-12, according to the preliminary findings of the DGS.
 
The launch of dumping investigations follows complaints lodged by India-based Jindal Stainless Limited (JSL) alleging dumping of the abovementioned stainless steel products and seeking protection from Chinese imports.
 
According to JSL's complaint made to the DGS, capacity utilization of the domestic stainless steel industry declined to 58 percent in FY 2011-12 from 91 percent in FY 2009-10 with inventories of local producers rising to 15,498 mt during FY 2011-12 from 4,257 mt in FY 2009-10.