FX.co ★ India Slaps Anti-Dumping Duty on Vietnam Steel

India has introduced an anti-dumping tariff on steel imported from Vietnam as part of efforts to prevent the diversion of Chinese steel through Vietnam. According to industry experts, this regulation imposes a duty of USD 121.55 per tonne on hot-rolled flat steel products, whether alloy or non-alloy, over a five-year span. Notably, steel produced by Hoa Phat Dung Quat Steel JSC is exempt from this duty, as reported by the Economic Times. The Directorate General of Trade Remedies (DGTR) conducted an investigation that revealed the product was being exported to India at below-normal value prices. This investigation was initiated after a complaint was filed by the Indian Steel Association, representing domestic producers such as JSW Steel Limited and ArcelorMittal Nippon Steel India. The period under investigation spanned from January 2023 to March 2024.