India's SAIL calls on CVD imposition on 200 series stainless steel imports from China
Views : 129
Update time : 2023-05-30 17:14:39
India's government-owned stainless steel company Steel Authority of India Limited (SAIL) had urged the government to impose countervailing duties (CVD) against imports of 200 series stainless steel from China in order to keep fair competition with local supply.
China's 200 series stainless steel actually stands with the government's aid by 19% on export costs which had caused a 20-30% market share loss for India's local supply.
SAIL's 200 series market share dropped by 60% in comparison to the 2023 and 2022 financial years due to the Chinese cheaper import.
On April 6, 2023, the Ministry of Commerce and Industry of India released a statement for the first finalization suggestion to levy an 18.95% CVD tax for five years on Chinese hot-rolled and cold-rolled stainless steel under HS codes 7219 and 7220 but targeted 200 series products in this CVD case.
