India imposed anti-dumping duty on imports of certain type of steel products from China, Vietnam and Korea for five years with a view to guard domestic manufacturers from cheap
PANAJI: The Goa government has put up about 1 million tonnes of iron ore for the e-auction scheduled from May 9 onwards. This is the 28th e-auction which will take place on the platform of MSTC (earlier called Metal Scrap Trade Corporation, a central public sector undertaking).
The iron ore will be auctioned on an as-is-where-is basis.
The cargo is lying on jetties or within the erstwhile mining leases or on the plots.
The cargo may be in the form of fines, lumps, ROM (run-of-mine or ore in an unprocessed state), or a mixture of them.
“Only an end-user or an exporter is eligible to participate in the e-auction,” the directorate of mines and geology said.
“The cargo purchased in the e-auction by the end-user must be utilised for domestic consumption only. No intermediate sale is permitted.”
The directorate said, “The cargo won in the e-auction by the exporter shall be compulsorily exported. The cargo won in the e-auction by the end-user cannot be diverted for export and vice versa.”
The cargo won in the e-auction by an end-user or an exporter shall be transported from the primary location within 90 days of the declaration of the successful bidder by the directorate.
However, this deadline does not include the ‘no transportation’ period from June 7 to September 2.
imports from these countries. The duty imposed is in the range of USD 13.07 per tonne to USD 173.1 per tonne on imports of ‘Flat rolled product of steel, plated or coated with alloy of Aluminium and Zinc’ from these three countries. “The anti-dumping duty imposed under this notification shall be effective for a period of five years (unless revoked, amended or superseded earlier) from the date of imposition of the provisional anti-dumping duty, that is, October 15, 2019,” the department of revenue said in a notification.
According to global trade norms, a country is allowed to impose tariffs on such dumped products to provide a level-playing field to domestic manufacturers. The duty is imposed only after a thorough investigation by a quasi-judicial body, such as DGTR, in India. The imposition of anti-dumping duty is permissible under the World Trade Organization (WTO) regime. The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters.