12 Aug 2009 18:22

India could slap safeguard duty on h/r steel

MOSCOW. Aug 12 (Interfax) - India could impose 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 said.

The duties could apply to all types of h/r steel not more than 20 mm thick and more than 600 mm wide.

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.

NLMK told Interfax that it sold little in the way of h/r steel to India.