India imposed anti-dumping duty on certain steel pipes and tubes from Vietnam and Thailand. The duty will last for five years. The government acted on a complaint by Indian steel producers. The producers said that Vietnamese and Thai companies were selling these products at very low prices in India. This hurt their business. The duty ranges from $246 to $307 per metric tonne.
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The government on Tuesday imposed anti-dumping duty on welded stainless steel pipes and tubes imported from Vietnam and Thailand, accepting recommendations of the Directorate General of Trade Remedies (DGTR). US Election 2024US Election News Live UpdatesState-wise voting times in IST & when to expect early trendsUS will make history. For the right reasons, or the wrong. The duty, imposed for five years, varies from $246-307 per metric tonne, depending on the producer and country of origin. It comes after the DGTR concluded that welded stainless steel pipes and tubes had been exported to India from these countries "at dumped prices and the domestic industry has suffered injury" on account of these imports. The probe covered imports between April 2022 and March 2023. For steel producers in Thailand, except I Stainless Steel Co Ltd, a $246 per metric tonne duty has been slapped, while for Vietnamese steel producers, except Sonha SSP and Steel 568 Co., a $307 per metric tonne duty has been imposed. 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About 40 domestic producers, accounting for half of the stainless steel and pipes production in India, submitted data for the probe. The foreign steel producers said that the products under investigation were the American Society of Mechanical Engineers: Bioprocessing Equipment (ASME-BPE) certified and unavailable in India and, therefore, should be excluded from the scope of the investigation. US Election 2024Another American Civil War if Trump loses election?What Trump victory would mean for US & the world Nominations for ET MSME Awards are now open. The last day to apply is November 30, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)