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India levying anti-dumping duties on China's steel

- Feb 02, 2018 -

In August 9th, the government of India announced an anti-dumping duty on 93 kinds of products imported from China. According to local media reports in India, the anti-dumping measures involve Chinese chemical and petrochemical industries, steel and other metal products, fiber and yarn, machinery products, rubber or plastic products, power electronics and consumer goods.

In fact, in recent years, India has been trying to realize their dreams but the big country of iron and steel, considering the product quality and cost and China steel gap, India domestic consumers actually prefer Chinese steel, in order to reverse this situation, India began to China introduced a variety of restrictions on imports of steel from 2015, anti now the anti-dumping investigation is only before the restrictions of a continuation.

Relevant statistical data showed the first half of this year, India launched a total of 12 cases for Chinese trade investigation, the antidumping investigations which are the areas of iron and steel. The 12 investigations have also made India the largest country to initiate trade investigations in China. In 2016, the trade volume between China and India amounted to 71 billion 180 million US dollars, of which India's exports amounted to 11 billion 750 million US dollars and imports amounted to 59 billion 430 million US dollars, and India's trade deficit with China amounted to 47 billion 680 million US dollars. China has become India's largest trading partner and the largest importer of imports.

Face so close trade ties, India has chosen for many products including China steel, waving the big stick of trade protectionism. So what effect will the antidumping investigation in India bring to China's steel exports in the future? In fact, the impact of India's move on the later stage of China's steel exports is not too big. The reasons are as follows:

First, in Chinese steel export layout, especially the "The Belt and Road along national and regional steel exports, India market status is declining.  In 2016, India ranked only seventh in China's steel exporting countries, ranking behind the Vietnamese market. In 2016, China exported 3 million 314 thousand tons of steel to India, which was 1 million 447 thousand tons lower than that in 2015, down 30.4% compared to the same period in 2015. Through this data, it is not difficult to find that Chinese iron and steel enterprises are not very dependent on the India market.

Second, in the international steel trade industry chain of high-end market, Chinese steel and steel enterprises compared to Japan and South Korea although there is a certain gap, but in the low-end market, Chinese steel has very strong competitive power. Moreover, in the high-end market, the competitiveness of Chinese steel enterprises is gradually increasing, and the Chinese steel enterprises are narrowing the gap with the world's advanced steel enterprises. As a result, the status of Chinese steel products in the overseas market is increasing, and it is also favored by many overseas users, including India and American customers.

In Chinese for steel enterprises, all kinds of anti-dumping investigation in these years, we have seen too many, and will not let China steel enterprises feel the sky is falling". On the one hand, of course we have to apply the rules of international trade, to protect the legitimate interests of legitimate China enterprises; on the other hand, China steel enterprises through the years in the international market in the city, already was a common heart, and strive to do better, stronger. Only in this way can we always be in an invincible position in the international competitive market.

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