Indian steel users resist anti-dumping probe on Vietnamese HRC imports
Steel NewsDate: 06-09-2024 by: Ngoc Cam
The Indian government will need to carefully consider the interests of all stakeholders before making a final decision on imposing anti-dumping duties on HRC steel imports from Vietnam.
The recent anti-dumping investigation into Vietnamese HRC imports has been met with strong opposition from the Indian steel user community. They fear that the imposition of such duties could lead to higher steel prices, negatively impacting industries that depend on steel, such as automotive parts, agricultural tools,...
Balancing trade protection and steel user interests in India's HRC probe
According to Upkar Singh Ahuja, President of the Chamber of Industrial and Commercial Undertakings (CICU) in Punjab, "We do not want anti-dumping duties applied." He argues that imposing these duties would create a financial burden on SMEs, raising input costs and reducing their competitiveness. Some industrialists oppose the anti-dumping duties on Vietnamese HRC, concerned that large steel corporations in India might gain monopolistic control over the market by raising prices unreasonably.
Akash Bassi, Vice President of CICU, also emphasized that anti-dumping measures could hinder free trade, create trade conflicts and disrupt supply chains. Other industry representatives, such as Honey Sethi and Rajnish Ahuja, also noted that the steel industry is currently profitable, the additional duties are unnecessary and could threaten the sustainability of SMEs.
India's anti-dumping investigation into HRC imports from Vietnam is generating mixed opinions within the industry. While some large producers support the duties to protect their interests, many SMEs are concerned that this will increase production costs, reduce competitiveness and harm the local economy. The Indian government will need to carefully weigh the interests of all parties involved before making a final decision on imposing these anti-dumping duties.
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