India’s Jindal Stainless Limited (JSL) has applied to the Indian finance ministry seeking countervailing duty (CVD) on stainless steel imports from China, a company statement said on Thursday, June 1.
In a communication to the ministry of finance, JSL claimed that ex-China stainless steel imports into the country are 19 percent cheaper than domestic products, largely owing to various subsidies enjoyed by mills in China.
This comes close on the heels of government-run Steel Authority of India Limited (SAIL) last month also submitting a communication to the ministry of finance seeking the imposition of CVD to ensure a level playing ground and protection for its stainless steel producing subsidiary Salem Steel Plant (SSP).
It has also been pointed out by JSL that countries like Brazil, Malaysia, Mexico, South Korea, Taiwan, Thailand, the US, Vietnam, and the European Union nations have imposed duty on stainless steel strip shipments coming from China and some of these duties have been in force since 2013.
