India's ministry of commerce and industry has announced that, having regard to the Customs Tariff Act 1975 as amended in 1995 and the Customs Tariff (Identification, Assessment and Collection of
Anti Dumping Duty on Dumped Articles and for Determination of Injury) Rules 1995 thereof.
Whereas Jindal Stainless Limited has filed an application before the Designated Authority in accordance with the Customs Tariff Act, 1975 as amended in 1995 and Customs Tariff (Identification, Assessment and Collection of Anti-Dumping Duty on dumped articles and for determination of injury) Rules, 1995 concerning alleged dumping of Cold-Rolled Flat Products of Stainless Steel originating in or exported from China PR, Japan, Korea, European Union, South Africa, Taiwan, Thailand and USA and requested for initiation of anti dumping investigations for levy of antidumping duties on the subject goods.
And whereas the authority on the basis of sufficient evidence submitted by the applicant on behalf of the domestic industry, after examination of the same with regard to adequacy and accuracy issued a public notice dated November 25th 2008 published in the Gazette of India, Extraordinary, initiating Anti Dumping investigations concerning imports of the subject goods originating in or exported from the subject countries in accordance with the Rule 6 (1) of the Rules to determine the existence, degree and effect of 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.
On the basis of analysis, the Authority concluded that
a. Imports from subject countries have increased in absolute terms as well as in relation to total imports and total demand in India.
b. The capacity of the domestic industry remained unutilized due to presence of the dumped imports.
c. Sales of the domestic industry increased over the injury investigation period. However, the same are lower than the increase in demand.
d. Market share of the domestic industry has come down over the period of investigation while the demand increased.
e. The prices of the domestic industry for series 300 are suppressed while for 200 and 400 were depressed as well as suppressed.
f. There is a significant price undercutting from each of the subject countries for all series taken together and separately for each series except Japan and EU for 400 series.
g. There is a significant price underselling from each of the subject countries for all series taken together and separately for each series.
h. The profitability, ROCE and cash flow of the domestic industry have been severely affected.
i. There is a negative growth and the ability of the domestic industry to raise capital investment has been affected.
j. The dumping margin from each of the subject countries is significant.
The Authority has, after considering the foregoing, come to the conclusion that:
a. The subject goods have been exported to India from the subject countries below its normal value;
b. The domestic industry has suffered material injury;
c. The injury has been caused by the dumped imports from subject countries.
Having regard to the lesser duty rule followed by the authority, the Authority recommends imposition of anti-dumping duty equal to the lesser of margin of dumping and margin of injury, so as to remove the injury to the domestic industry. Accordingly, the antidumping duty equal to the amount indicated in Col 9 of the table below is recommended to be imposed from the date of notification to be issued in this regard by the Central Government, on all imports of subject goods from the subject countries as mentioned in Page 66 to page 68 of the document
To view the full document, please visit
http://commerce.nic.in/writereaddata/traderemedies/adfin_Cold_Rolled_Flat_Products_Stainless_Steel_ChinaPR_USA.pdf
The Authority confirms the provisional findings Notification No. - 14/6/2008- DGAD dated 27rd March, 2009 and corrigendum notification dated 22nd April 2009, and recommends imposition of the anti dumping duty as in Para above and the duty table as above from the date of imposition of provisional anti-dumping duty.
Source : steelprices-china.com