India probes steel imports from Vietnam for dumping
The Vietnam Competition Authority said that India has initiated an investigation into steel imports from Vietnam and 13 other countries and territories.
According to the Authority, the directorate general of Safeguards will impose a temporary limit on imports from those markets if it found India’s steel industry injured or threatened by foreign steel. The investigation will cover hot rolled coils, sheets and strip steel.
Pham Chi Cuong chair of the Vietnam Steel Association said that India imported 2 million tonnes of steel for industrial purposes in 2007. Vietnamese steel prices are more competitive than Indian.
Men work at a steel mill in Vietnam's northern Bac Ninh province, 40 km (25 miles) north of Hanoi March 3, 2009. (Reuters)
VCA said that local businesses should inform the Indian agency of their exports and submissions before May 8.
India this year has applied anti-dumping measures against recordable compact discs and compact fluorescent lamps from Vietnam and is also investigating imports of Vietnamese yarns.
Cuong said that TBKTSG Online on last Wednesday that Vietnamese steel makers only began to ship steel pipes to the US late 2008.
US authorities said that they already hold 2.55% of the US market and warned of an anti-dumping investigation if the ratio reached 3% in a short time.
An industry insider said that it is impossible that Vietnamese steel pipes could hold a 2.55% market share in the US.
Category: Legal
