Union Government slaps anti-dumping duty on stainless steel

 Union Cabinet has imposed an anti-dumping duty ranging from 5.39% to 57.39% on import of cold-rolled flat products of stainless steel for 5 years.

• It has imposed on the recommendation of Directorate General of Anti-dumping and Allied Duties (DGAD).
• Anti-dumping duty has been imposed on 7 countries – China, South Korea, the US, South Africa, Thailand and Taiwan and European Union.

The highest duty has been levied on steel imports from China at 57.39%, followed by the European Union at 52.56%. Imports from Thailand have the least duty imposition of 4.58%.

• The government’s decision comes in the wake of rising incidence of dumping as it was obstructing the performance of domestic industry with steel prices on a decline.