India imposes anti-dumping duty on steel imports from China
The commerce ministry had recently recommended a $25 per tonne import duty on metallurgical coke (met coke) which is a key raw material for the steel sector.
Several domestic Steel makers has opposed the anti-dumping duty. Secretary general of Indian Steel Association argued that such a levy of anti-dumping duty on met coke will have a cost push effect on the steel sector in India.Imposition of any such duty will cause the price of finished steel to increase by Rs 700-1,500 a tonne.
Met coke costs have about tripled since January this year since the time the case was started and it is at present administering around $350 a ton, without any indications of subsiding.
Domestic steel makers fear that Imposition of anti-dumping duty will further worsen the already bad situation by increasing the prices of inputs though sale realisations have remained more or less flattish.