In the second quarter of 2019, the Indian Government took many actions to protect the domestic steel market.
In April 6th, an anti-dumping investigation on Aluminium and Zinc Coated Steelimports from China PR, Vietnam and Korea RP had initiated.
After that, in July 3rd, another anti-dumping investigation concerning imports of Flat Rolled Products of Stainless Steel from China PR, Korea RP, European Union, Japan, Taiwan, Indonesia, USA, Thailand, South Africa, UAE, Hong Kong, Singapore, Mexico, Vietnam and Malaysia have been launched.
Beside that, in early May, India steel markers seek 25% safeguard duty on imports. And the Government has intent to increase the customs duties on steel.
These new moves show that the Indian government has seen outstanding growth of steel imports in the past.
Currently, customs duties on steel are 15%, however, the authorities are planning to raise this tariff by another 7 – 12.5%, ie customs duties will be around 22 – 27.5%
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