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India is going to increase duties on steel

India has already introduced import duties with respect to steel products. The first anti-dumping duties on imports of stainless steel cold-rolled engaged in April 2009. Now the authorities are planning to increase them to China, Korea, South Africa, E. C. The final figure will be 57.39% of the customs value. Presumably the effect of duties would be extended for 5 years. Such measures are necessary domestic market of India, to be protected from cheap imports. These are the recommendations provided by the Directorate General of the country's anti-dumping and duties. required an investigation was carried out according to the directorate. In 2015, expires anti-dumping duties. The lawsuit filed by the company Jindal Stainless stainless steel production.

As a result, it was concluded that there is dumping and the corresponding damage. In case of cancellation of existing duties damage threatens to increase. Because anti-dumping duty is a harsh necessity. As its subsequent operation within 5 years. The final decision on the extension and the fees lies with the Ministry of Finance. The dimensions will be set in the range of 4,58−57,39%. A particular value will depend on the product supplier. Anti-dumping duty in India has already been installed on a large part of imported steel products.

In September, the demand for the domestic market fell more than 5.2%. According to The Hindu figures reached 6.2 mln. Tons. The decline in demand negatively affects the economic activity of the region. Reduced volumes and steel production in the country. In September, production fell by 1.3%. Indicators reached the level of 7.33 million. Tons. At the same time about the data in September 2014 production fell by 0.5%. In annual terms, compared with the consumption of steel in April-September increased by 4.1%. The result reached the level of 39,140,000. Tons.

During 6 months result rather optimistic. This sharp decline in demand is observed in September. In August consumption in India steel products increased by 4.8%. The main contributing factor — the real estate sector. Experts believe that to restore it away. Leaders of the producer countries for the period April-September together smelted 23,670,000. Tons. Growth thus amounted to 3.3% compared to last year. It is about RINL, SAIL, Essar, JSPL, TSL, JSWL. Manufacturers have developed smaller 21,470,000. Tons of steel. Indicators regarding the same period last year fell by 1.5%.

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