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Russian, Indian firms accused of dumping |
| The Saudi Hadeed Company, a Sabic affiliate
has accused Russian and Indian manufacturers of steel sheets of dumping in
the Saudi market. In a petition submitted to the Saudi authorities, Hadeed
has demanded the imposition of a 20 per cent customs fee on Russian and
Indian imports, according to Saudi Gazette.
One of the demands is that the protective tariff should be calculated on the basis of the difference between the price of the product at the point of origin and the dumping price in the Gulf, the report said. Hadeed is one of the largest producer of steel sheets in the Gulf with an annual production capacity of 850, 000 tonnes. The Saudi authorities are expected to take action soon considering Riyadh is examining prospects to introduce a new anti-dumping law, the newspaper said. It quoted a source as saying dumping by Russian and Indian companies had led to price collapsing by more than 60 per cent, constituting a threat to the local industry. Hadeed said it was selling its products at less than half their actual cost. Russian made products account for 35-40 percent of the Saudi market while Indian products command 15 per cent. The authorities have also been urged to issue stringent specifications for steel sheets in order to curb imports of inferior products. |
| 15th July 2001 |
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