Indian mills likely to file AD case against HR imports

Indian mills likely to file AD case against HR imports

Indian steelmakers, after seeing imports of hot rolled coils more than double year on year since April, argued that some of these imports are sold at price levels that would constitute dumping in the Indian market. Sources report that the Indian Steel Alliance (ISA), on behalf of major Indian steel mills, plans to take up the issue with India's Ministry of Trade. Russia, China and Ukraine would be the most likely targets of any antidumping investigations. Statistics indicate that in the first six months of current fiscal year India imported 2.8 million metric tons of steel products, more than double the 1.38 million metric tons of the corresponding period of the previous fiscal year. Russia, Ukraine, Germany, South Korea, and China are the chief exporters of steel products to India. In India, the current import duty on steel is 5 percent, which is lower than the duty rates in other steel consuming countries. As previously reported by SteelOrbis, Indian mills reduced their hot rolled coil prices by Rupees 500 ($11) per ton to Rupees 21'000 ($458) per ton effective for orders as of November, in an effort to bridge the gap between their prices and international prices.