India launches anti-dumping probe into stainless flat steel imports

The investigation covers flat-rolled stainless steel products imported between 2015 and March 2019, under HS code codes 7219 and 7220, from China, South Korea, the European Union, Japan, Taiwan, Indonesia, the United States, Thailand, South Africa, Mexico, United Arab Emirates, Singapore, Hong Kong, Vietnam and Malaysia.

“Evidence of dumping of the subject goods, originating in or exported from the subject territories [and a] causal link between the alleged dumping and injury [to the domestic industry, justifies the] initiation of an anti-dumping investigation,” the ministry said late last week.

The probe was launched after an application was jointly filed by the Indian Stainless Steel Development Association, Jindal Stainless, Jindal Stainless (Hisar) and Jindal Stainless Steelway, complaining that prices of material imported from the respective countries “undercut” domestic producers and had a “depressing effect” on the industry.

Fastmarkets’ weekly import price assessment for stainless steel cold-rolled coil, Asia grade 304 (2mm 2B), cif East Asia, was $1,930-1,990 per tonne cif on Wednesday July 3, up $20 per tonne from a week earlier.

Fastmarkets’ weekly import price assessment for stainless steel hot-rolled coil Asia grade 304, cif East Asia, was $1,830-1,890 per tonne cif on July 3, up $20 per tonne week on week.