The Directorate General of Trade Remedies (DGTR) has recommended 3.46% to 10.27% countervailing duty (CVD) on copper wire imports from Vietnam, Thailand, Malaysia, and Indonesia. The duty, if imposed by the Finance Ministry, will hit margins of electrical wire makers that are the primary importers of this commodity.
Indian Primary Copper Producers’ Association has filed an application before DGTR. Hindalco Industries Limited and Vedanta Limited provided the costing data and are referred as domestic industry for the investigation.
Exports by PT Karya Sumiden Indonesia will face a 4.98% CVD while those from PT Tembaga Mulia Semanan Tbk will attract a 3.75% duty. The CVD on any other Indonesian exporter has been fixed at 7.94%. While there will be nil duty on Metrod Malaysia Sdn Bhd, DGAD ruled that it any other producers will have to shell our 10.27% CVD. Vietnamese copper producers will shell out 7.13% CVD.
