The Ministry of Steel has informed that the anti-dumping duty on the cold rolled flat stainless steel products from China, Korea, European Union, South Africa, Taiwan, Thailand and USA were further extended for five more years.
The Government had imposed anti-dumping duty ranging from 4.58% to 57.39% on 17.04.2014.
The Ministry further noted that after a review, it was found that there is continued dumping of these goods from above mentioned countries/territories though the volume of imports has declined and the performance of the domestic industry has deteriorated in the current injury period due to the impact of the dumped imports from these countries.
“The dumping is likely to continue and the performance of the domestic industry is likely to deteriorate, if the anti-dumping duty is revoked,” it concluded .
Anti-dumping duty is imposed on the basis of margin of dumping which can vary across countries, producers or exporters. Accordingly, there are variable rates of anti-dumping duty on different exporting countries, producers or exporters, it added.