The Directorate General of Trade Remedies (DGTR) is conducting an anti-dumping investigation on hot rolled coil (HRC) steel imports from China, Japan, and Russia. A report by Equirus suggests that if anti-dumping duties are imposed, it could lead to a gradual recovery in domestic HRC prices. Despite the recent safeguard duty, imports are expected to remain high due to India’s lower duty structure compared to other regions.
Pranav Mehta from Equirus mentioned that the surge in HRC imports is driven by metal pipe manufacturers benefiting from increased demand in the Middle East. While the safeguard duty has provided initial support to domestic prices, imports may persist as India’s duty is lower than in key markets. If anti-dumping duties are enforced post the DGTR investigation, it could further restrict import economics, favoring local steel producers.
The investigation was initiated following complaints by companies, including Steel Authority of India Ltd. (SAIL), alleging a surge in imports from China, Japan, and Russia at unfairly low prices. The probe covers hot rolled flat steel products, excluding stainless steel, with a review period from January to December 2025.
