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Indian steelmakers are looking for ways to deal with a cheap stainless steel

Indian stainless producers are looking for ways to influence the situation with cheap imports of corrosion resistant metal from China. In particular, Jindal Stainless management of the company — one of the industry leaders in the country (accounting for about 50% of total production) — by submitting a statement to the authorities controlling this issue. Ramesh Nair — executive director of Jindal Stainless — commented on the situation: «The price of stainless steel imported to our country from China, significantly lower cost level," local «metal (approximately 20−25 percent less). It harms the industry, and we turned to the government for the introduction of anti-dumping duties on imports of products in this category. First of all we are talking about cold-rolled stainless steel — the most interesting for the domestic consumer category rolled. «

The opinion of the representatives of Jindal Stainless shares the president of the association Indian Stainless Steel Development Authority (ISSDA) Mr N. S. Mathur. He believes that the five-percent import duty on stainless serving today have become «obsolete.» And if the situation does not affect, India could become a «dumping ground for Chinese manufacturers.» Whereas, according to market experts, the country has its own excess capacity — not less than 3.5 million tons per year.

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