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The government of India has levied anti-dumping duties on certain types of stainless steel that are shipped in from countries like China and Japan. The anti-dumping duties were imposed after finding that certain types of imported steel are landing at below the normal value in the country's port. The Central Board of Customs and Excise imposed the duties by saying that the domestic industry has suffered badly due to the imports from other countries.
As per a notification of Central Board of Customs and Excise, the duties will remain effective till October 21, 2009. The subject countries will pay the duties in Indian currency, notified the board. Apart from China and Japan, other countries include South Korea, European Union, South Africa, Taiwan, Thailand and the US. The type of steel on which duties have been imposed is called cold-rolled flat steel products.
The subject countries will have to pay duties ranging from $12.74 to $2,011 per tonne. The anti-dumping duties will be charged depending on the type of steel, the country of manufacture, the origin of import and the producer. The firms that are mentioned in the notification include Arcelor Mittal from France and Belgium, Lianzhong and Shanxi Taigang from China, Acrinox from Spain and Malaysia, Columbus from South Africa, Posco from South Korea and Yeih United of Taiwan. India is the fifth largest producer of steel in the world with a capacity of producing 53 million tonnes of steel annually.
