India’s Directorate General of Trade Remedies on 5th November 2019 announced imposition of Countervailing Duty ranging 2.47-10.27% on imports of Continuous Cast Copper Wire Rods from Indonesia, Malaysia, Thailand and Vietnam.

DGTR said “Authority recommends imposition of definitive countervailing duty equal to the lesser of margin of subsidy and margin of injury for a period of five years, from the date of notification to be issued in this regard by the central government, so as to remove the injury to the domestic industry.

Accordingly, definitive countervailing duty as mentioned in Col No.7 of the duty table below is recommended to be imposed from the date of notification to be issued in this regard by the Central Government on all imports of the subject goods from the subject countries.”

Hindalco Industries Limited and Vedanta Industries Sterlite Copper had filed an application for the same

The product scope specifically includes Continuous cast copper wire rod; Copper wire; Copper rod; Copper wire rod; Continuous cast copper rod; Copper strip; Welding wires

The scope of the PUC excludes Rods made of copper-zinc base alloys brass or bronze and similar alloys; Copper weld wires; Wires made of copper- zinc based alloys brass or copper nickel base alloys cupro nickel or copper-nickel-zinc base alloys nickel silver or bronze and similar alloys; Silver plated copper wires; Tinsel wires; Enameled copper wires; Metal coated copper wires; Insulated copper wires cables.

Heading/ Subheading - 7408
Description of Goods - Continuous Cast Copper Wire
Duty Table
 

Source: Steelguru