Overview
- The Department of Revenue notified the measure on November 12 after the DGTR found Vietnamese hot-rolled flat products were dumped and caused material injury to Indian producers.
- The duty is set at $121.55 per tonne and covers hot-rolled flat steel up to 25 mm thickness and 2,100 mm width, with stainless steel excluded.
- The rate applies to goods exported from Vietnam even if produced by non-Vietnamese firms, remains in force for five years unless changed, and is payable in Indian currency at the applicable exchange rate.
- Market intelligence firm Big Mint said no Vietnamese HRC imports were recorded in the first half of FY26, with importers instead bringing in billets and slabs for domestic conversion to finished steel.
- The Steel Ministry reported $242 million of semi-finished imports from Vietnam between April and September, an 887% year-on-year jump, prompting industry calls for broader curbs after earlier steps like April’s 12% safeguard duty.