The Indian government has adopted a series of protective measures for most steel varieties, which results in a significant reduction of steel imports. April 2016 to February 2017, Indian imported steel 72.4 million tons, a decline of 37%.
Affected by anti-dumping, imported products can not compete with domestic products in India. Currently, the price of local hot volume is about 552 US dollars/ton, Korean steel mills offer 550 US dollars/ton (CFR). The heat volume anti-dumping duty is levied according the reference price that less than $474/tonne (CFR, Mumbai), in addition, 12.5% import duties and 18% safeguard measures of tax are also included.
India's three major exporting countries in China, South Korea and Japan by the impact of the most obvious.
China, South Korea and Japan as three major exporting countries of Indian, suffered the most obvious impact. April 2016 to February 2017, the total steel exports of China to India was 2.07 million tons, reduced 45%, South Korea exported 1.99 million tons, reduced 30%, Japan exported 995,500 tons, reduced 51%. Among them, the hot volume exports of South Korea to India was 79.74 million tons, reduced 32%, Japan exported 45.05 million tons, reduced 60%.
