NALCO, Hindalco & Vedanta’s shares rise on India’s anti-dumping duty announcement on aluminium flat rolled products from China

Shares of three notable aluminium makers recorded higher in trade, followed by the Central Government’s announcement of the imposition of anti-dumping duty on select aluminium products imported from China.

National Aluminium Company’s share was traded higher by 5.77 per cent, Hindalco Industries shares up by 4.54 per cent, and Vedanta Limited up by 2.26 per cent.

In a notification dated December 6, 2021, the Department of Revenue, Ministry of Finance, Government of India, said that in case of certain flat rolled aluminium products, originating in or exported from China, dumping margin for the subject goods from the subject country is positive and significant. According to the ministry, the domestic industry has suffered material injury caused by the dumped imports from China.

The Department of Revenue has recommended the imposition of anti-dumping duty on the imports of aluminium flat rolled products, originating in or exported from China, in order to remove injury to the domestic industry.

The duty will be effective for five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette.