On Friday, September 27, the United States Department of Commerce announced its final verdict in relation to the anti-dumping and countervailing duty investigations for aluminium extrusion dumping from several countries, including India. In the verdict, the department named Maan Aluminium as the only Indian exporter with a zero rate of anti-dumping duty.
Maan Aluminium Limited, a leader in the aluminium extrusion industry in India, has successfully escaped the United States’ anti-dumping duty, receiving a 0 per cent dumping rate recognition, unlike other Indian companies. Global Aluminium, Aluka Extrusions, and Jindal Aluminium have been assigned a dumping rate of 39.05 per cent.
The zero anti-dumping duty means Maan Aluminium will not have to pay additional tariffs to the United States for exporting extrusions. This will give the company a competitive advantage in the American market, enabling it to enhance its export potential.
Following this news, Maan Aluminium’s stock price surged over the weekend, developing a positive market sentiment. Growing by 20 per cent, the company’s shares are being traded at INR 171.38 on the National Stock Exchange (NSE) on Monday, September 30.
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