KUALA LUMPUR: A safeguard petition by Megasteel Sdn Bhd, the country's sole producer of hot rolled coils (HRC), that asks the Government to impose additional duty on imported HRC, has received strong objections from local downstream steel players and foreign HRC exporters.
Megasteel, in its petition, is believed to be asking for an additional 35% duty imposed on imported HRC, which currently attracts an import duty of 25%.
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