Indian state-run steel producer Steel Authority of India Limited (SAIL) has moved the ministry of finance seeking imposition of countervailing duty (CVD) on imports of stainless steel from China, company sources said on Wednesday, May 24.
They said that increase of stainless steel imports from China is directly responsible for SAIL unable to increase production from Salem Steel Plant (SSP), its wholly owned stainless steel producing subsidiary with mill located in Tamil Nadu in the south.
According to representation submitted by SAIL, ex-China stainless steel imports were at 19 percent discount to current domestic price and ‘predatory pricing of the inward shipment’ was causing injury to domestic production of SSP.
It said that SSP had installed capacity of 180,000 mt per year of stainless steel flat rolled products and output had fallen by a massive 60 percent in 2022-23, in face of imports sold at ‘below cost’ entailing subsidies enjoyed the sellers from China.
