Export market for Indian steel mills' HRC shrinks due to AD duties and competition from Chinese mills
Time:Thu, 15 Aug 2024 08:41:23 +0800
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The export market for Indian steel mills' hot-rolled coil (HRC) has gradually shrunk due to anti-dumping measures imposed by various countries.
In August, Turkey announced the preliminary results of the anti-dumping investigation, and levied a dumping margin of 11.65% on Tata Steel, and 18.26% on other Indian mills. In the same month, the EU also announced an anti-dumping investigation into HRC from Egypt, India, Japan, and Vietnam. In addition, the Vietnamese authority started an anti-dumping investigation against India's HRC.
Even in this market, Indian mills are difficult to compete with Chinese suppliers. In the few remaining Middle Eastern markets, Indian mills are also under sales pressure due to price competition from China's HRC. However, market participants said export restrictions will not have much impact, as domestic demand is absorbing most of HRC production capacity.
