19 Aug 2009 13:10

India not to slap safeguard duty on h/r steel

MOSCOW. Aug 19 (Interfax) - India has decided against imposing safeguard duties on hot-rolled steel imported from Russia, China, Indonesia, Iran, Japan, Kazakhstan, Malaysia, Philippines, Romania, South Africa, Saudi Arabia, South Korea, Thailand, Turkey and Ukraine.

Russia's Novolipetsk Steel (NLMK) warned in a quarterly earnings report that India could impose anti-dumping measures by the end of this year that could reduce or bring its shipments to India to a halt.

The anti-dumping probe into h/r steel got under way in November last year following a complaint by Essar Steels, Ispat Industries and JSW Steel, the Indian Industry and Trade Ministry has said.

But the Russian Economic Development Ministry said on August 19 that the Indian ministry had rounded the anti-dumping probe off without imposing any safeguard measures after the Indian companies withdrew their complaints.

The Indian ministry said on its website that the three companies notified it that they were withdrawing their complaints on August 6.

Russian steel producers have started to export the bulk of their metal, mainly to the Asian markets, since the crisis reduced demand in the country itself.