A definitive anti-dumping duty ranging from $114 to $3,801 per tonne, to be valid for five years, has been levied by Finance Ministry on imports of Stainless Steel Seamless Tubes and Pipes from China to protect the domestic economy.
Valid for five years, the anti-dumping duty imposed on imports of Stainless Steel Seamless Tubes and Pipes from China ranges from $114 to $3,801 per tonne depending on the producer.
An anti-dumping duty is imposed to protect local businesses and markets from unfair competition by foreign imports. It is a tariff imposed on imports of goods manufactured overseas priced below the fair market value of similar goods in the domestic market.
In September 2022, the Directorate General of Trade Remedies (DGTR) in the Commerce Ministry recommended imposition of anti-dumping duty on Stainless Steel Seamless Tubes and Pipes from China. The DGTR concluded that these products were exported at dumped prices to India, affecting the domestic economy.
Also Read: GAIL lays down 80% of India’s First Gas Pipeline along Highway
DGTR had initiated the investigation after Chandan Steel Ltd, Tubacex Prakash India Pvt Ltd, and Welspun Specialty Solutions Ltd had sought an anti-dumping probe on this product from China. The Government’s move to impose anti-dumping duty would benefit domestic players like Ratnamani Metals and Tubes and Venus Pipes, according to industry experts.
