EU discontinues with anti-dumping duty on Indian steel wires

Giving relief to India's stainless steel industry, the European Union has decided not to continue with anti-dumping duty and countervailing duty on stainless steel wires imports from New Delhi. EU has decided not to initiate a sunset review and will not continue will the duties, official sources told PTI.

It had imposed upto 55 per cent anti dumping duty and 48.8 per cent countervailing duty imports of stainless steel wires of more than one milimeter diameter from New Delhi in 1999.

In another case it had put upto 44 per cent anti-dumping duty on stainless steel wires of less than 1.0 mm from India in the same year.

These duties after the completion of five years period were coming for a sunset review and historically EU after the initiation of review continues with duties.

The companies which manufacture the long products in this catgeory are mainly Mukand and Easy Bar. This category constitutes 20 per cent of the total stainless market.

Source: PTI, August 30' 2004