India serves steel products anti-dumping notice on China, others - source | Reuters

NEW DELHI A government body has issued notices to China, Japan and South Korea proposing to initiate a probe on the 'dumping' of some steel products into India, a source said.

The notices have been issued for hot-rolled coils of alloy and non-alloy steel, a source at the Directorate General of Anti-Dumping & Allied Duties (DGAD) told Reuters.

Indian steelmakers Steel Authority of India Ltd, JSW Steel Ltd and Essar Steel had approached the DGAD seeking anti-dumping duties on cheap imports flooding local markets and pressuring margins.

Imports of steel into India rose 20.5 percent in the 11 months to February compared with the same period last year, government data showed.

New Delhi last week extended safeguard import taxes on some steel products until March 2018, and in February imposed a floor price to curb overseas purchases of cheap steel and shield domestic mills.

(Reporting by Sankalp Phartiyal; Editing by Greg Mahlich)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Apr 05, 2016 23:30 PM

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