India imposes 5-yr anti-dumping duty on Chinese Steel

12 Sep 2023 CW Team

India has announced the imposition of a five-year anti-dumping duty on certain Chinese steel products, as per a government notification.

Earlier, on September 4, the Secretary of India's Ministry of Steel, Nagendra Nath Sinha, had stated that New Delhi was closely monitoring the influx of steel imports due to concerns raised by the domestic steel industry regarding potential dumping practices by Chinese steel manufacturers.

From April to July, China emerged as the second-largest steel exporter to India, trailing only behind South Korea. During this period, China exported 0.6 million metric tons of steel to India, marking a significant 62% increase compared to the same period in the previous year.

In total, India imported 2 million metric tons of finished steel during this time frame, representing the highest import volume since 2020 and a notable 23% surge compared to the corresponding period in the preceding year.

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