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Union Commerce Ministry’s investigation arm DGTR has initiated a probe to review the need to continue imposition of anti-dumping duty on certain types of steel products imported from China, Korea, European Union, South Africa, Taiwan, Thailand and the US following complaints from domestic industry, according to a notification.
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A quick look at how China's economy and steel market performed in the first half of 2020.
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South Korean and Japanese steel producers are currently not offering cargoes in the Indian market due to low demand and anti-dumping duties.
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The U.S. Commerce Department had issued a final anti-dumping ruling against imports of stainless steel rods from India claiming that the Indian producers and exporters had sold the stainless steel rods below the normal rates in the U.S during the period under review 1 Feb’17 to 31 Jan’18. But the final duty announced by the U.S. is lesser against the preliminary duties imposed in the month of April this year.
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As per the latest updates, India has started a sunset review of its anti-dumping duties on flat hot-rolled stainless steel products from China, Malaysia and South Korea.
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China’s economy and financial system will be able to withstand the impact of the ever-escalating Sino-US trade friction, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC) confidently predicted on May 28 during an exclusive interview with Xinhua News Agency and People’s Daily.
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Many countries have stepped up their vigilance of Chinese steel imports of late, and so far in April, countries including Malaysia, Egypt, India and Mexico have all launched AD or safeguard probes on exports of China's finished steel, affecting both long and flat, carbon or stainless, Mysteel Global noted.
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China’s decision to impose provisional duties on stainless billets and stainless hot-rolled flat products is expected to ease the pressure of oversupply in domestic stainless market in the coming term, a market source observed on March 25.
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China’s Ministry of Commerce announced on March 22 to impose provisional duties on stainless slabs and billets, and stainless hot-rolled flat products from the origins including the European Union, Japan, South Korea and Indonesia.
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The European Commission’s definitive safeguard measures on imports of steel products which took effect from February 2 are unlikely to hurt China’s steel exports, according to Chinese market sources Wednesday.
