India has introduced an antidumping duty on imports of hot-rolled sheet steel from Russia, China, Japan, South Korea, Brazil and Indonesia for six month with a possibility of prolongation, the Finance Ministry said in a statement.
The duties will be calculated as a difference between a $474-557 tariff per ton and the price of goods at unloading.
Problems of Indian metals companies are not connected with steel imports from Russia, a spokesperson for the Economic Development Ministry said.
“The Russian Economic Development Ministry has sent comments to India’s Trade and Industry Ministry with its position on this issue. We believe that negative financial results of Indian companies are not connected with imports from Russia and are caused first of all by high prices of raw materials and high production costs in India”, the spokesperson said. (1prime.biz/Ukrainian metal)