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India launches review of stainless steel tariffs from China, Malaysia, South Korea

Singapore — India has started a sunset review of its antidumping duties on flat hot-rolled stainless steel products from China, Malaysia and South Korea, the Ministry of Commerce and Industry said late Thursday.

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The current duties, ranging from $180/mt to $316/mt, on "Hot Rolled Flat Products of Stainless Steel-304 Grade" are due to expire March 9, 2020, five years after they were first imposed.

In initiating the review, the ministry said it will "examine whether the expiry of such duty is likely to lead to continuation or recurrence of dumping and injury to the domestic industry."

In 2018, stainless steel products comprised about 8% of India's overall imports, which amounted to about 8.95 million mt, data from the US International Trade Administration showed.

The move comes amid market concerns that surplus production from China may find its way into India.

China's crude stainless steel output in 2018 rose 3.6% to 26.7 million mt, accounting for about 52.6% of the world's total output.

The sunset review follows the ministry starting an antidumping probe in July into flat-rolled stainless steel products from China, the EU, Hong Kong, Indonesia, Japan, Malaysia, Mexico, Singapore, South Africa, South Korea, Taiwan, Thailand, the UAE, the US and Vietnam.

-- Clement Choo, clement.choo@spglobal.com

-- Edited by Manish Parashar, manishparashar@spglobal.com