Pantech resumes steel exports to US


  • Business
  • Tuesday, 18 Jun 2019

KUALA LUMPUR: Pantech Group Holdings Bhd said its steel products manufacturing unit will resume exports to the US after the company said it was not subjected to anti-dumping duty.

Pantech, in a filing with Bursa Malaysia today, said the resumption of exports is expected to have positive impact on group revenue, with contribution from Pantech Steel Industries Sdn Bhd (PSI) projected to normalise by fiscal quarter ending Nov 30, 2019.

Pantech had suspended for almost a year all shipments of carbon steel butt-weld fittings having an inside diameter of less than 14 inches. This is after the US Department of Commerce (DOC), on July 20, 2018, issued a preliminary affirmative anti-circumvention determination carbon steel butt-weld fittings from Malaysia

The DOC had earlier determined that Malaysian companies are circumventing the anti-dumping duty order on butt-weld fittings from China. Pantech, in its response in July, said it will challenge the decision.

On June 14, the DOC issued a final affirmative determination concerning circumvention of anti-dumping duty from Malaysia.

"In this final determination, DOC has verified PSI ability to trace country of origin of its shipments of its butt-weld pipe fittings and allows PSI to continue exporting to the US without being subject to anti-dumping duty provided Pantech and its importers provide the required certifications and documentation to the US Customs and Border Protection, and maintain certifications and supporting documentation to provide to DOC upon request,' it said.

 


   

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