New Delhi: Imports of a select steel product from China, Brazil and Germany may soon attract an anti-dumping duty of up to USD 3,263 per tonne for five years.
The Directorate General of Trade Remedies (DGTR) under the commerce ministry has recommended the anti-dumping duty after its investigation found below-cost imports of ‘High-Speed Steel of Non-Cobalt Grade’ from these three countries, according to a notification.
The finance ministry will notify the duty on the steel that is used in the manufacturing of high-speed steel cutting tools.
The Directorate General of Trade Remedies noted that local manufacturers suffered a material injury due to the dumping of the steel product.
Graphite India Ltd had filed a complaint against dumping of the steel product from three countries.