India's Directorate of Anti Dumping and Allied Duties (DGAD) has recommended an antidumping (AD) duty on imports of hot rolled (HR) flat stainless steel imports from China, Malaysia and South Korea, a government official said on Thursday, March 12.
The antidumping duty investigation launched by the complaint of Jindal Stainless Limited was completed on March 9. The investigation period was from April 2012 to June 2013.
According to DGAD's recommendation, antidumping duty rates should stand at $309/mt for China, $316/mt for Malaysia and $190/mt for South Korea, the official said. He said that the recommendations will be sent to the department of revenue under the Ministry of Finance for official notification.
According to data compiled by DGAD, imports of hot rolled flat stainless steel from China, Malaysia and Korea during the financial years 2010-11, 2011-12 and 2012-13 were estimated at 31,797 mt, 38,744 mt and 35,985 mt respectively. The market share of imports from these three countries in India during these three years stood at 73.96 percent, 80.92 percent and 81.55 percent respectively.