India's steel secretary, Nagendra Nath Sinha, announced that New Delhi was closely monitoring the situation regarding steel imports, particularly in response to concerns raised by the domestic steel industry regarding potential dumping by Chinese steel sellers. China, as the world's leading steel producer, primarily exported cold-rolled coils or sheets to India.
Between April and July, China emerged as the second-largest steel exporter to India, following South Korea, with sales of 0.6 million metric tons. This marked a significant increase of 62 percent compared to the same period in the previous year.
In total, India imported 2 million metric tons of finished steel during this period, the highest volume since 2020 and reflecting a notable 23 percent increase compared to the previous year. This indicates a growing reliance on steel imports to meet domestic demand.
Earlier, in Febuary 2023, The Trade Remedies Authority of Vietnam under the MoIT has issued also Decision No. 132/QD-BTC on the continuation of anti-dumping measures stated in the Decision No.3390/QD-BCT, for certain imported cold-rolled (cold-pressed) steel coils or sheets from China.
According to this ruling, Chinese cold-rolled steel is subject to anti-dumping duty rates ranging from 4.43 percent to 25.22 percent, depending on the individual manufacturers and exporters
The MoIT chose to investigate the matter in compliance with WTO, FTML, and other applicable legislation.
