Anti-dumping duty on China to boost local steel manufacturing
Country's local steel producers expect a big boost to local manufacturing and a fall in prices after the Union government’s decision to impose an anti-dumping duty against steel wheels produced in China for five years. During April-July, China was the second biggest steel exporter to India, after South Korea, selling 0.6 million metric tons, up 62% from the same period a year earlier. In all, India imported 2 million metric tons of finished steel in the period, the highest since 2020 and up 23% from a year earlier. China, the world's top steel producer, exported mostly cold- rolled coils or sheets to India.
📅Published on:
13 September 2023
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