India slaps anti-dumping duty on some Chinese stainless steel imports

India imposed anti-dumping duty on some cold-rolled flat products of stainless steel from China, the United States, South Korea and the European Union, to curb the influx of cheaper imports and help local producers.

India, anti-dumping duty, India slaps anti-dumping duty, anti-dumping duty on some Chinese stainless steel, Chinese stainless steel imports
The duty, which will be in effect until Dec. 10, 2020, exempts certain grades of stainless steel, an official notification said. (Image: Reuters)

India imposed anti-dumping duty on some cold-rolled flat products of stainless steel from China, the United States, South Korea and the European Union, to curb the influx of cheaper imports and help local producers. The duty, which will be in effect until Dec. 10, 2020, exempts certain grades of stainless steel, an official notification said. The government has allowed import of the product as long as the end use of the import is in the same form, it said.

Earlier this month, the government imposed an anti-dumping duty on the import of some flat steel products from China and the European Union for five years. Last month, the government imposed an additional 18.95 percent countervailing duty on some hot-rolled and cold-rolled stainless steel flat products, a first such levy on a steel product.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express Telegram Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.