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India recommends countervailing duties for aluminum wire, to review existing wire rod duties

8/6/21  India’s Directorate General of Trade Remedies (DGTR) has recommended the imposition of countervailing duties on certain types of aluminum wires from Malaysia for five years.

Per a report in the India’s Economic Times, the DGTR concluded that imposition of definitive countervailing duty is required to offset subsidization. “The authority recommends imposition of definitive countervailing duty...for a period of five years,” it said. The finance ministry must approve the DGTR’s finding for it to be imposed. The probe was launched based on complaints from Vedanta Ltd and Bharat Aluminium Company Ltd. DGTR recommended a rate of 6.87% and 16.5%.

The DGTR also has begin an anti-dumping (AD) duty sunset review to determine whether existing measures set in 2016 should be continued for steel wire rod imported from China. Per an online report from India’s Economic Times, the investigation is supported by the Indian Steel Association on behalf of Rashtriya Ispat Nigam Limited, Steel Authority of India Limited and JSW Steel. The three companies “have supported the application,” the DGTR said in a notification. In it, it said that ending the duties would harm domestic wire rod producers. The period of investigation is Oct. 1, 2019 to March 31, 2021.

Per a report in the newindianexpress.com, in 2016, an AD duty equivalent to the difference between the landed value of steel products and US$499 per metric ton was to be imposed on products exported by Minmetals Yingkou Medium Plate Co., and $538 for all other producers.

Read 1459 times Last modified on August 6, 2021