CRU: Indian Stainless Flat Import Probe and Rationale Behind It

LONDON, July 26, 2019 /PRNewswire/ -- On 3 July 2019, Indian government's Directorate General of Trade Remedies (DGTR) initiated an anti-dumping investigation into stainless steel flat rolled imports from China, the US, the European Union, Japan, South Korea, Indonesia and nine other countries.

This insight explores the reasons that led to the Indian government considering import restrictions and their possible implications.

Details of the investigation
Initiation of the anti-dumping investigation by DGTR (the investigation arm of the Indian commerce ministry) follows a formal application by the Indian Stainless Steel Development Association (ISSDA), Jindal Stainless Limited, Jindal Stainless (Hisar) Limited and Jindal Stainless Steelway Limited. The product under consideration (PUC) includes all forms and specifications of products under HS codes 7219 and 7220, exclusions being as follows:

• 304 grade hot rolled stainless steel up to 1650mm wide from China, Malaysia and South Korea; on which anti-dumping duties have been in place since June 2015
• razor blade-grade steel;
• coin blanks (under HS code 73269099); and
• cold rolled stainless steel of 600 mm and above from China, the EU, South Africa, South Korea, Taiwan (China), Thailand and the US (except that of more than 1250 mm having actual use as more than 1250 mm); on which anti-dumping duties have been imposed since February 2010.

The period of investigation is April 2018 to March 2019, while the injury investigation period will cover the periods FY15/16, FY16/17, FY17/18 and FY18/19. Affected parties have 40 days from the day of initiation of investigation to comment on the application and initial findings presented.

Reasons leading to this investigation
The Indian government's decision to consider the request of the domestic stainless steel industry to probe into imports of stainless steel (SS) flat rolled products is a consequence of sustained imports into India despite substantial growth in local supply (7% CAGR between 2014-2018).

Indian SS-CR coil imports have exceeded 300 kt /y in the past five years, despite growing domestic production. In fact, in 2019 Q1 CR coil imports reached 96.4 kt, the highest quarterly level since 2017 Q3. A significant contributor to this increase was Indonesia, imports from which tripled on a y/y basis (59% q/q) in 2019 Q1 to 14.6 kt. 

Read the full story: https://www.crugroup.com/knowledge-and-insights/insights/2019/indian-stainless-flat-import-probe-and-rationale-behind-it/ 

Read more about CRU: http://bit.ly/About_CRU

About CRU

CRU offers unrivalled business intelligence on the global metals, mining and fertilizer industries through market analysis, price assessments, consultancy and events.

Since our foundation by Robert Perlman in 1969, we have consistently invested in primary research and robust methodologies, and developed expert teams in key locations worldwide, including in hard-to-reach markets such as China.

CRU employs over 280 experts and has more than 11 offices around the world, in Europe, the Americas, China, Asia and Australia – our office in Beijing opened in 2004 and Singapore in 2018.

When facing critical business decisions, you can rely on our first-hand knowledge to give you a complete view of a commodity market. And you can engage with our experts directly, for the full picture and a personalised response.

CRU – big enough to deliver a high-quality service, small enough to care about all of our customers.

SOURCE CRU