India imposes safeguard duties of 20% on Vietnamese steel
(VOV) - India has decided to levy safeguard duties of 20% for 200 days on hot rolled flat products of non- alloy and other alloy steel in coils of a width of 600mm or more.
The decision was given after three Indian steel producers - SAIL, Essar and JSW – accused exporters from different countries of selling cheap steel at the Indian market, causing damage to its domestic industry.
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According to statistics from the General Department of Vietnam Customs, Vietnam exported around 21,000 tonnes of steel worth US$20.5 million to India last year.
In the first seven months of this year, 6,650 tonnes of steel were shipped to India, valued at US$7.68 million.