BUSINESS

Anti-dumping duty on stainless steel products slapped

NEW DELHI: The Centre Government has imposed a provisional anti-dumping duty on certain high-end stainless steel products to guard the domestic industry from surges in cheaper imports from China, Thailand and the U.S.

The Finance Ministry notified a maximum levy of $1,823 a tonne on import of cold-rolled flat stainless products, mainly used by the automotive industry, for six months, as recommended by the Directorate General of Anti-dumping and Allied Duties.

The duty would be effective up to October 21.

JSL, the country’s largest stainless steel maker, welcomed the move to check the surge in cheaper imports and said Indian manufacturers would be able to meet the domestic requirement for the alloy. — PTI

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