(Yicai Global) Feb. 22 -- India has extended anti-dumping duties on some Chinese steel products by five years in a bid to retain protectionist barriers and stem the flow of cheap foreign products into the country.
The long-term measure, which targets seamless tubes, pipes and hollow profiles made of iron, alloy or non-alloy steel, came into effect on May 17 last year, Cnstock.com reported today. The Indian government had imposed a provisional anti-dumping duty at that time.
India's Steel Secretary Aruna Sharma said earlier this month that there was a "strong case" for imposing long-term anti-dumping duties on up to 124 steel products over the next two months.
Between last April and this January, India's steel imports fell almost 38 percent from a year earlier, figures from a government agency showed, largely due to the slew of protectionist steps announced by the government, the report said.
Indian steelmakers such as JSW Steel Ltd., Tata Steel Ltd. and Steel Authority of India Ltd. have lobbied for more measures to protect them from cheaper imports from China, Japan and South Korea.