India’s cast iron exports under EU scanner
India’s exports of certain iron items to the European Union (EU) and shipments of ferro alloys to South Korea have come under the scanner of local authorities in those jurisdictions. The European Commission (EC) has initiated an investigation into certain items of grey iron and ductile cast iron from India on allegations that they are being ‘dumped’ (or sold below the price charged in the home market or below production cost) into the EU region. Meanwhile, South Korean authorities have decided to initiate investigation into dumping of ferro-silico-managese (used in the steel industry) from India, Vietnam and Ukraine into South Korea thereby allegedly causing injury to their domestic industry.
This, the EC probe suggests is adversely affecting local industry as these articles are used to cover and, or give access to ground or sub-surface systems.
Iron & steel and their related articles have been among India's main exports to Europe. However, shipments of iron & steel and their related items exports to Europe had fallen from $3.86 billion in FY’15 to $3.07 billion in FY’16. During April-September this fiscal, exports of these products were worth $1.82 billion.