Indian Govt to Impose Duty on Aluminum Imports for 2 Years

RENO, NV, June 16 -- The central government of India is planning to impose a safe guard duty of up to 35% on some aluminum products for two years to protect the domestic industry against cheap Chinese imports.

    Quoting an unidentified official, The Economic Times reported, "The Board of Sagfeguards which is headed by the Commerce Secretary has approved the imposition of the duty for two years." The Directorate General had recommended the duty be imposed for four years.

    A temporary duty of up to 35% for aluminum sheets and foils was already in place for a period of 200 days.

    Earlier this month, the Directorate General of Safeguards concluded, "On the basis of findings it is seem that increased imports of unwrought aluminum, aluminum waste and aluminum scraps have caused and threated to cause serious injury to the domestic industry/producers."

    India's top aluminum manufacturers, including BALCO, Nalco, Hindalco and Vedanta had filed the petition for imposition of the duty.  Aluminum and aluminum product improts increased to 131,858 tonnes during the first quarter of this year from 96,074 tonnes during the same period of last year.

    Cheap shipments also come from South Korea, Oman and Iran.

    A safeuard duty is considered a temporary measure to reduce damage to the domestic industry from cheap imports.

    (Source: mineweb.net)