Approximately $1.64 billion worth of copper tube and pipe exports from Vietnam, Thailand and Malaysia over the past few years could face India's countervailing duty after the government launched an anti-dumping investigation, Fastmarkets understands.
Directorate General of Trade Remedies, under India's commerce ministry, received a complaint from industry body Bombay Metal Exchange (BME) that a significant increase in copper tube and pipe imports have led to steep declines in local production, it said in a September 25 filing.According to government data, India bought $492.85 million worth of copper tubes and pipes from overseas between April 2019 and March 2020, up 77% from the same period three years ago...