Coal news and updates

India begins investigations into steel dumping

India has initiated investigations into the possible dumping of cheap steel products into the country by six nations, including China, Japan and South Korea, industry sources said.

Russia, Brazil and Indonesia are the other three countries being investigated by New Delhi over the export of cheap hot-rolled flat steel products in coils and sheets, sources said.

Exporters have 40 days to respond to the notice of initiation, sources said.

Indian steelmakers JSW Steel, Essar Steel and Steel Authority of India had approached the DGAD seeking anti-dumping duties on cheap imports flooding local markets and pressuring margins.

Import of steel surged 20% in 2015-16, according to steel ministry data. 

India last month extended safeguard import taxes on some steel products until March 2018, having already imposed a floor price in February in an effort to curb purchases of cheap foreign steel.