By Rakhi Mazumdar, ET Bureau | 6 Jun, 2015, 08.02PM IST
KOLKATA: The government has imposed anti-dumping duties on certain industrial-grade stainless steel imported from China, Malaysia and South Korea. The move is aimed at restraining rising imports to protect the domestic steel industry. The duty will range between $180 and $316 per tonne and will be valid for a period of five years. This was stated in a notification from the union finance ministry on Friday (June 5, 2015).
"It's a welcome move and a necessary one to save the domestic industry which (is) at the suffering end," said N.C. Mathur, president of the Indian Stainless Steel Development Association.
India consumes about one million tonne of this grade of stainless steel, out of which imports, mainly from China, account for a 40% share.
Article Source: http://economictimes.indiatimes.com/industry/indl-goods/svs/steel/government-imposes-anti-dumping-duty-on-stainless-steel-imports/articleshow/47567388.cms
Publication Date: 06 June 2015
Increase in customs duty on stainless steel is an encouraging news for the domestic manufacturers. This will enhance production and extensive use of domestic stainless steel in the manufacture of items ranging from household to industrial machineries and associated parts. Although limited time wararanty is given for few finished products like electronic appliances and machineries that use SS as materials of construction, there is no structured quality assurance policy instituted by the government to ensure the performance of stainless steel in various environments and manufactured items. Most of the homewares do not carry a proper warranty for the lifetime performance of materials. Consumers pay higher cost to choose reliable items in terms of performance and quality. The intention of choosing the higher material is to get rid off main issues like corrosion and gloss. The key question on the life of SS components is yet to be resolved. We do not see credit given for corrosion control of metallic structures in our country. Awareness on corrosion control has to be effectively implemented by our government to encourage material conservation efforts.