India slaps anti-dumping duty on stainless steel imports

NEW DELHI: India has imposed anti-dumping duty of up to $2,254 per tonne on import of certain stainless steel products -- used by consumer durables and auto industries -- from the US, EU, China and other countries.

The decision to slap the duty by the Finance Ministry follows an inquiry by a Commerce Ministry wing, which found that "the domestic industry has suffered material injury" due to a surge in imports.

The probe found that the cold-rolled flat products of stainless steel have been exported to India below normal value.

The anti-dumping duty on different type of products would go up to USD 2254.69 per tonne and would also cover imports from South Korea, South Africa, Taiwan, Japan and Thailand, the Central Board of Excise and Customs said in its notification.

Outokumpu, AreclorMittal and POSCO are major exporters of steel products to India.

In April 2009, the government had imposed provisional anti-dumping duty on these goods