Less than a fortnight after imposing anti-dumping duty on hot-rolled flat steel products was imposed, the Finance Ministry has extend a similar levy on another grade of steel — cold-rolled flat products.
Continuing its protectionist approach towards the domestic steel industry, the government has imposed provisional anti-dumping duty on cold-rolled flat products of steel imported from China, South Korea, Japan and Ukraine, for six months. Cold-rolled flat products of steel are used in sectors such as automotive, appliances, furniture, electrical panels, general engineering, capital goods, construction, packaging including drums and barrels, coating and plating including galvanising, colour coating, tinplates etc. This Revenue Department move has come less than a fortnight after the Designated Authority in the Commerce Ministry recommended levy of provisional anti-dumping duty. The anti-dumping duty imposed is difference between $ 594 per tonne and “landed value” in case of specified producers from these four countries. In case of some producers, a ‘Nil’ rate has also been specified by the Revenue Department.