June 26 – India's trade remedies body has initiated an anti-dumping investigation into hot rolled steel from China, Japan and Russia, according to a government notification.
• The Directorate General of Trade Remedies, under the federal trade ministry, in a notification dated Thursday, said domestic producers JSW Steel, JSW Vijaynagar Metallics Limited and Jindal Steel Odisha had requested the investigation.
• The companies alleged that imports from China, Russia and Japan at dumped prices were hurting the domestic industry and would likely continue to cause harm.
• The probe covers hot rolled flat products of alloy or non-alloy steel of up to 25mm thickness, the notification said.
• Reuters reported earlier this month that China's finished steel exports to India more than doubled in April to the highest in at least two years.
• China shipped in around 232,000 metric tons of finished steel in April and emerged as the top exporter of such steel to the South Asian nation, provisional data reviewed by Reuters showed.
• Buyers are lured by Chinese steel that is cheaper anywhere between $11 and $37 per ton of hot-rolled steel compared with local prices.
(writing by Shilpa Jamkhandikar, Editing by Louise Heavens)
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