DGAD & Allied Duties recommends provisional anti-dumping duty on imports of wire rods.

KOLKATA: Directorate General of Anti Dumping (DGAD) & Allied Duties has recommended provisional anti-dumping duty on imports of wire rods following an investigation into alleged dumping of the product originating in or exported from China. The DGAD has recommended the duty should be the difference between landed price of imports and a reference price of $499 for some Chinese companies, while for others it has suggested the duty should be the difference between landed price and $538 per tonne.

The duty was recommended on 'wire rod of alloy or non-alloy steel', which is used in a variety of applications like, automotive components, welding electrodes, fasteners, nuts and bolts, nails, railway sleepers, general engineering, binding wires for construction industry and armoured cables.

Earlier Steel Authority of India Limited (SAIL), Rashtriya Ispat Nigam Limited (RINL), Usha Martin Limited and JSW Steel Limited had jointly filed an application for initiation of anti-dumping investigation on imports of "Wire Rod of Alloy or Non-Alloy steel'' originating in or exported from China, alleging dumping and consequent injury and requested for levy of anti-dumping duty on its imports.

"From the examination of injury and causal link, the Authority provisionally concludes that the domestic industry has suffered injury as a result of dumping of the subject goods from the subject country. There has been a significant increase in the volume of dumped imports from the subject country in absolute terms throughout the injury period and in relation to production and consumption in India. The dumped imports have had significant adverse effect on the prices of the domestic industry in the market," a DGAD notification said.

DGAD had said in June 2016 that it had initiated investigation in accordance with the sub Rule 5 of the Anti Dumping Rules, to determine the existence, degree and effect of the alleged dumping and to recommend the amount of anti-dumping duty, which, if levied, would be adequate to remove the injury to the domestic industry.

Source : economictimes.indiatimes.com