According to the report, the petition, which was submitted on July 31, seeks action against rising imports of low-priced alloy steel wire rods from China.
India’s alloy steel makers are stepping up pressure on the government to shield them from Chinese imports.
The Alloy Steel Producers Association of India (ASPA) has filed an anti-dumping petition with the Ministry of Commerce and Industry’s Directorate General of Trade Remedies, seeking action against rising imports of low-priced alloy steel wire rods from China, according to a Reuters report on August 11.
ASPA has 20 members, including major players like JSW Steel, Jindal Steel, Kalyani Steels, Tata Steel, Steel Authority of India, and Mukand Sumi Special Steel.
The Fight Against Cheap Chinese Imports
The petition, submitted on July 31, highlights the increasing pressure on domestic producers over the past three years as Chinese imports have surged.
India, the world’s second-largest crude steel producer, has an annual alloy steel production capacity of 18 – 20 million metric tons, catering to key sectors such as automobiles, defense, and aerospace. Alloy steel wire rods are crucial for manufacturing vehicles and their components.
This move follows India’s decision in April to impose a 12% temporary safeguard duty on certain steel imports to counter a surge in cheap shipments, mainly from China.
Producers from India, the world’s second-largest crude steel producer, have been under significant pressure due to Chinese imports. This has led to mills scaling back operations and considering job cuts.
India has joined a growing list of nations, including Japan, that are taking steps to protect their domestic industries from the effects of aggressive Chinese exports.
Stock Impact
JSW Steel (+0.6%) and Jindal Steel (+1.1%) were among the gainers, while Kalyani Steels (-1.7%), Steel Authority of India (-0.4%), and Tata Steel (-0.5%) were trading in the red in afternoon trade on Monday.
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