India has initiated a sunset review investigation to continue imposing anti-dumping duty on steel wire rods imported from China. The Indian Steel Association on behalf of Rashtriya Ispat Nigam Limited, Steel Authority of India Limited and JSW Steel raised concerns at the likelihood of recurrence of dumping if the extant antidumping duty comes to an end this year and requested for review and continuation of the levy. Preliminary anti-dumping duties on steel wire rods from China were first imposed in 2016.

“Further, Tata Steel Long Products Limited and Jindal Steel and Power Limited have supported the application,” the Directorate General of Trade Remedies (DGTR) said in a notification.

Steel wire rods, made from both alloy and non-alloy steel, are used in many industries including automotive components, welding electrodes and general engineering.

“There is prima facie evidence of likelihood of continuation/recurrence of dumping and injury to the domestic industry in the event of cessation of duty, considering the volume and price of imports of subject goods (steel wire rods) from China, positive dumping margin, significant unutilised capacities in subject country, existence of trade remedial measures imposed by other countries against the subject country, potential trade diversion, price attractiveness of Indian market and reduction of basic custom duty by India on imports of product under consideration,” the DGTR said.

Source: Economic Times