Monday, February 18, 2013

M’sia to impose anti-dumping duties on steel wire rods


PETALING JAYA: The Government has proposed to impose anti-dumping duties on steel wire rods from selected companies in China, Taiwan, South Korea and Indonesia, following the completion of a detailed investigation into the import of the commodity.

“The Royal Malaysian Customs will enforce the collection of the anti-dumping duties, and this measure will be effective for five years from Feb 20, 2013,” according to a statement from the International Trade and Industry Ministry (Miti) said yesterday.

Imports of steel wire rods from Turkey, on the other hand, would not be slapped with any anti-dumping duties due to the dumping margin being below 2%, the ministry said.

The Government began an anti-dumping investigation on June 25, 2012, based on a petition filed by Amsteel Mills Sdn Bhd on behalf of the domestic steel wire rod industry.

The petitioner alleged that the imports of steel wire rods originating in or exported from China, Taiwan, South Korea, Indonesia and Turkey were being imported into Malaysia at a much lower price than in the domestic markets of those countries.

This, the petitioner claimed, was causing material injury to the domestic industry producing the same product in Malaysia.

According to Miti, anti-dumping duties on imports of steel wire rods from Taiwanese companies would be as follows: China Steel Corp 10.98%; Feng Hsin Iron and Steel Co Ltd 9.04%; and others 25.20%. Imports of steel wire rods from China-based companies Jiangsu Shagang International Trade Co Ltd and Jiangsu Yonggang Group Co Ltd would not be slapped with any anti-dumping duties, while imports of steel wire rods from other Chinese companies would be slapped with an anti-dumping duty of 25.20%.

Imports of steel wire rods from companies in Indonesia would also be subject to an anti-dumping duty of 25.20%, except for those sourced from PT Ispat Indo, which would not be imposed with such a levy.

Imports of steel wire rods from companies in South Korea would also be subject to an anti-dumping duty of 25.20%, except for those sourced from Posco, which would be imposed with an anti-dumping duty of 3.03%. - the star online

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