Posted on 11 Jul 2012
India's Director General of Safeguards (DGS), a part of the country's Ministry of Finance has started an antidumping (AD) investigation on imports of 300 series hot rolled (HR) stainless steel flat products from China.
According to preliminary data of DGS, India’s imports of Chinese 300 series HR stainless steel products surged substantially by sevenfold year on year to 36,183 tons in fiscal year 2011/12.
India-based Jindal Stainless complained that the Chinese imports have been dumped into the Indian domestic market and the firm was seeking for protection.
The capacity utilization rate of the Indian domestic stainless steel industry slid to 58% in fiscal year 2011/12 from 91% in a year earlier. Also, the inventory of local makers surged to 15,498 tons in fiscal year 2011/12 from 4,257 tons in the previous year, according the complaint made by Jindal Stainless.
