India has launched an anti-dumping investigation into the import of hot-rolled flat products from Vietnam. This action follows a complaint from the Indian Steel Association (ISA) and was announced through a gazette notification. The Directorate General of Trade Remedies (DGTR) will focus on hot-rolled flat products made of alloy or non-alloy steel that are not clad, plated, or coated, with a thickness of up to 25 mm and a width of up to 2100 mm.
The ISA, representing domestic producers such as JSW Steel and ArcelorMittal Nippon Steel India, alleges that these imports are being sold at dumped prices, which they claim is causing material injury to the local industry. The investigation will cover the period from January 1, 2023, to March 31, 2024, and the applicants have requested the retrospective imposition of anti-dumping duties due to an increase in dumping from Vietnam.
This investigation coincides with Vietnam's Ministry of Industry and Trade initiating its own anti-dumping probe into steel hot-rolled coils from China and India. Data indicates that imports of hot-rolled coils from Vietnam to India surged by 203% from April 2023 to March 2024, reaching 576,000 metric tons, compared to 190,000 metric tons in the previous year.
The notification highlights that the volume of imports from Vietnam has increased significantly, raising concerns about the impact on domestic steel prices, which have recently hit their lowest levels in nearly three and a half years. If the DGTR finds that the dumping has harmed the domestic industry, it may recommend imposing anti-dumping duties, which would require final approval from the finance ministry.
