Company Disclosure

Key Regulatory Action

The Ministry of Finance (Department of Revenue) issued Notification No. 18/2026-Customs (ADD) dated July 27, 2026, imposing definitive anti-dumping duty on imports of Low Ash Metallurgical Coke (ash content below 18%) originating in or exported from Australia, China PR, Colombia, Indonesia, Japan, and Russia.

Duty Details

The anti-dumping duty is effective for a period of five years from the date of imposition of provisional anti-dumping duty (which was imposed vide Notification No. 41/2025-Customs (ADD) dated December 31, 2025).

Duty Rates by Country:

  • Australia: $71.16 per metric ton
  • China PR: $128.83 per metric ton
  • Colombia: $118.55 per metric ton
  • Indonesia: $67.50 per metric ton
  • Japan: $42.95 per metric ton
  • Russia: $84.16 per metric ton

The duty applies regardless of the producer and covers various routing scenarios (country of origin vs country of export).

Exemptions

The notification does not apply to:

1. Ultra-low phosphorous metallurgical coke (phosphorous content up to 0.030%) with size up to 30mm, imported by actual users for ferroalloy manufacturing

2. Semi-coke or soft coke

3. Low Ash Metallurgical Coke of size 20-40mm for use in blast furnaces up to 130 cubic meters for pig iron manufacturing

Company's Assessment of Impact

The company expects positive impact on:

  • Fair Domestic Competition: Protection from cheap, dumped foreign imports that distort market pricing
  • Production & Margins: Improved operational capacity utilization and pricing power without being undercut by artificially low-priced foreign coke
  • Sales Realization: Mitigation of unfair foreign price competition, supporting improved domestic order volumes and realization margins
  • Supply Chain Stability: Encourages long-term investment into domestic manufacturing and metallurgical coke capacity

The company specifically mentions "positive impact on domestic revenue streams and operating EBITDA margins due to stable domestic pricing dynamics."

Regulatory Background

The definitive duty follows:

  • Preliminary findings by designated authority (F. No. 6/03/2025-DGTR) dated November 14, 2025
  • Provisional anti-dumping duty imposed vide Notification No. 41/2025-Customs (ADD) dated December 31, 2025
  • Final findings by designated authority dated April 28, 2026

The designated authority concluded that:

1. The product was exported to India from subject countries at dumped prices

2. The domestic industry suffered material injury

3. The material injury was caused by dumped imports from subject countries

Effective Date and Currency

The duty is effective immediately and payable in Indian currency. The exchange rate for calculation shall be determined as per Section 14 of the Customs Act, 1962.