India's Trade Ministry on 22 September acquitted Saudi Iron & Steel Company (Hadeed) of a dumping charge brought against it by the Indian Steel Federation. The ministry's anti-dumping department ruled that Hadeed products were not harming local industry, and therefore did not attract any charge under anti-dumping regulations, reported local daily Eqtisadiah.
Hadeed was cleared in August 2001 by a Canadian court of dumping in the local market. The Canadian International Trade Tribunal ruled that the Saudi Basic Industries Corporation (Sabic) subsidiary had dumped only a small quantity in the local market and had not materially injured Canadian industry (MEED 31:8:01).
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