The Department of Trade Remedies (DGTR) under the Indian Ministry of Commerce has recommended the imposition of a 12 % safeguard duty on certain steel products from China and Vietnam, stating that increased steel imports are causing serious damage to the domestic industry.
The safeguard duty will be in effect for 200 days, until the final investigation is completed. However, imports from developing countries other than China and Vietnam will be exempt from the duty.
The duty will cover hot-rolled coils, plates and sheets, cold-rolled coils and sheets, metal-coated steel coils and sheets, and colour-coated (CC) steel coils and sheets. Stainless steel, electrical steel and certain specially coated steel products are exempted from the duty.
DGTR has set a base price for imported steel products. No safeguard duty will be imposed in case of imports per unit above the set prices.
- Hot rolled coils: USD 675/ton
- Hot rolled plates: USD 695/ton
- Cold rolled coils: USD 824/ton
- Coated steel: USD 891/ton
- Colour coated steel: USD 964/ton
It is stated that this measure was taken as a result of the shift of steel imports to India due to the protection measures imposed by the US.
The DGTR will receive feedback from interested parties on the implementation of this provisional duty within 30 days. An interpretative hearing will then be organised and a final decision will be taken.
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