India begins anti-dumping probe on certain aluminium imports from China

Economy


New Delhi: India has begun an anti-dumping probe in the imports of certain flat rolled products of aluminum originating in or exported from China based on a complaint by Hindalco Industries alleging injury to the domestic industry due to the dumped goods. The Directorate General of Trade Remedies (DGTR) will probe the dumping from FY17 to December 2019.

“The applicant has also claimed that imports are causing threat of material injury, considering significant increase in imports as compared to base year, significant surplus capacities in subject country, high export orientation of producers in subject country, and ability to scale up production in short span,” DGTR said in a notification. It added that all these factors go on to show that imports are causing threat of material injury to the domestic industry.

As per the notification, the alleged dumping has led to price suppression and depression on the domestic industry. In a separate notification, DGTR recommended anti-dumping duty on imports of Diketopyrrolo Pyrrole Pigment Red 254 (DPP Red 254) from China on the basis of a complaint filed by Heubach Colour Private Limited. The authority has recommended a duty of $1.31 per kg of the product which is used as a high-performance pigment in waterborne paints, enamels, epoxies and automotive and industrial paint applications.

Loading...

In its findings, DGTR said that imports are undercutting the prices of the domestic industry in the market and the performance of the domestic industry is likely to deteriorate in the event of cessation of anti-dumping duty as China is holding “significant capacities” and the imports which are dumped and injurious despite existence of the anti-dumping measure, are likely to increase. The earlier anti-dumping duty was imposed on August 17, 2015 for five years on imports of the product from China and Switzerland, and the same is in force. DGTR recommends the duty but the finance ministry takes a call to impose it.



Source link

Articles You May Like

Expecting a baby? Make these financial moves as new parents
Money may be tight during the holidays. How to tell your kids
Economists want second $1,200 stimulus checks. Where the relief stands
Delayed unemployment benefits led to $20,000 in credit card debt
5 crypto bulls on what’s next for bitcoin as BTC nears all-time high

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading...