International BusinessSAIL, Tata, JSW, Essar may face anti-dumping duty in Thailand
Thai authorities are about to slap up to 32 per cent anti-dumping duty on the import of a vital steel product from India, even when the Indian government has remained indecisive on a similar curb against inflows from China, Ukraine, Egypt and other countries.
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The Indian firms that will face anti-dumping duty in Thailand include SAIL, Tata Steel, JSW Steel and Essar Steel on their export of flat hot-rolled coils, used by the manufacturing sector, according to a notification of the Thai Foreign Trade office circulated to Indian industry by the Engineering Export Promotion Council (EEPC).
However, the Thai Committee on Dumping and Subsidy, which has cited over 350 per cent surge in imports from India during January-May this year, has given a chance to the Indian companies to put forth their objections to it within a month.
The Thai committee has recommended a maximum 31.92 per cent anti-dumping duty on the import of the steel product manufactured by Tata Steel and other companies. In the case of SAIL, JSW Steel and Essar Steel, the duty stands at 26.81 per cent, the EEPC circular said.
Indian steel companies have been demanding curbs on the import of the commodity since November last year, but the government is yet to take a call on it.
While a decision on anti-dumping duty on flat steel products imported from countries like China and Ukraine is pending with the Directorate of Anti Dumping and Allied Duties, that on safeguard duty of 25 per cent is awaiting clearance from the Board on Safeguards.
The steel producers have also been demanding an increase in import duty on the commodity to 20 per cent from the present 5 per cent.
Concerned over the spurt in cheap inflow of steel products, the steel makers have filed a petition for anti-dumping and safeguard duties.
Endorsing the industry’s concerns, the steel ministry is understood to have recommended an enhancement in import duty on steel items in the range of 10-15 per cent.
During April-May, India’s steel imports rose by 6 per cent 1.05 million tonnes, to which contribution of hot-rolled coils was 28 per cent at 350,000 tonnes.