Anti-dumping duties on CRCs from 4 nations


Petition filed: Mycron’s plant in Shah Alam. The company has filed a petition in March, alleging that CRCs from China, Japan, South Korea and Vietnam are being dumped in Malaysia at a much lower price than the domestic price in the respective countries.

KUALA LUMPUR: Malaysia has imposed anti-dumping duties of 3.84% to 26.39% on imports of cold-rolled coils of iron or non-alloy steel – of width more than 1300mm – from China, Japan, South Korea and Vietnam.

This move came after a petition was filed by Mycron Steel CRC Sdn Bhd in March, alleging that cold-rolled coils (CRCs) from these countries are being dumped in Malaysia at a much lower price than the domestic price in the respective countries, causing material damage to the Malaysian industry.

The International Trade and Industry Ministry (Miti) said the imposition of anti-dumping duties on imports of merchandise from the alleged countries would address the issue of unfair trade practices.

“The Customs Department will enforce the collection of anti-dumping duties and this measure will be effective for five years, from Dec 25,2019 to Dec 24,2024 ” it said in a statement.

According to Miti, Japanese producers and exporters would be taxed the most at 26.39% duty on imports of CRCs.

For South Korea, it said there would be no anti-dumping duties on CRCs produced by Posco, while other South Korean producers would face a 3.84% duty.

The government agency said China’s Maanshan Iron and Steel Co Ltd would face a 4.76% duty on the imports of CRCs, Angang Steel Co Ltd (4.82%), Shougang Jingtang United Iron & Steel Co Ltd (8.74%) and other producers (26.38%).

On Vietnam, Miti said the government has imposed a 7.7% duty on CRCs produced by Posco Vietnam Co Ltd, while other producers would face a 20.13% duty.

However, it pointed out that anti-dumping duties would not be imposed on imports of tin mill black plate as well as merchandise for automotive and transformer’s finwall end-usage.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

100% readers found this article insightful

Next In Business News

MIDF Research upgrades banks to positive from neutral
Ramsay Sime Darby Health Care appoints new group CEO
Weaker 4Q GDP after November PMI dips
CGS-CIMB Research ups end 2020 KLCI target to 1,628
Solid PMI in Asia drives ringgit higher by 70bps vs US$
Xiaomi raises US$4b selling shares, bonds
Top Glove slumps to near two-week low as woes mount
Tenaga, Top Glove and Petronas Chemicals weigh on KLCI
Kenanga 'slightly positive' on Sime Darby disposal of Jining ports
Trading ideas: Vizione, UWC, Samaiden, Uzma, Top Glove

Stories You'll Enjoy