Provisional anti-dumping duty imposed on certain steel products.

New Delhi, Nov 3: The Finance Ministry has imposed provisional anti-dumping duty on import of hot rolled steel products (bars and rods) from China. This anti-dumping duty will be valid for a period of six months.

Based on the recommendation of Designated Authority in Commerce Ministry, the Revenue Department has pegged the anti-dumping duty as difference between "landed value" and $ 499 per tonne in the case of exports by Minmetals Yingkou Medium Plate Co Ltd, China.

For all other producers and exporters of bars and rods (hot rolled) from China, the anti-dumping duty is difference between "landed value" and $538 per tonne.

Steel Authority of India Ltd, Rashtriya Ispat Nigam Ltd, Usha Martin Ltd and JSW Steel had filed a petition seeking anti-dumping levy on alleged dumped imports of "wire rod of alloy or non-alloy steel" originating in or exported from China.

The application was also supported by two other domestic producers -- Tata Steel Ltd and Jindal Steel and Power Ltd.

Wire rod of alloy or non-alloy steel are used in many applications and sectors such as automotive components, welding electrodes, fasteners including nuts and bolts, nails, railway sleepers, general engineering and binding wires for construction industry and armoured cables etc.

Source : thehindubusinessline.com