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The volume of imports of Chinese stainless steel in India may be reduced

The Indian authorities have decided to monitor the situation with the importation of stainless steel metal in the country of China. In particular, it is imported into India rolled sheet made of chrome-nickel steel AISI 300 series, with respect to volume and price policy of which the Ministry of Finance of state will hold a series of investigations. «If the analysis of the situation it turns out that local producers of stainless steel in this category actually suffer tangible losses, the government will cut trade with Chinese importers," — said in a communique of the Ministry. According to preliminary data, the investigation of the need for anti-dumping measures in respect of non-corrosive metal Made in China will continue until March 2013.

«The volume of consumption of stainless steel in India are growing steadily and this trend will continue:. The country will be in three years need 3.4 million tons of the metal» — analysts said Jindal Stainless — the largest local manufacturer. However, statistics on the market shows that the share of imported stainless steel in total consumption is progressing at a much faster rate. In particular, at this point in terms of increasing rates of customs service reports the importation of stainless steel from abroad and the data in terms of capacity utilization of local steel companies, whose dynamics are extremely negative. Therefore, the Indian market experts believe that if the situation does not affect, the sector in the near future will face serious economic problems.

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