MITI imposes anti-dumping duties on cold rolled coil imports from 4 countries
PETALING JAYA: The Ministry of International Trade and Industry (MITI) will impose anti-dumping duties on cold rolled coils of iron or non-alloy steels for five years on imports from China, Japan, South Korea and Vietnam.
This comes after the government concluded its anti-dumping investigation following a petition from Mycron Steel CRC Sdn Bhd on behalf of the domestic industry. The probe was initiated in accordance with the Countervailing and Anti-Dumping Duties Act 1993 and Countervailing and Anti-Dumping Duties Regulation 1994.
The petitioner alleged that subject merchandise from the alleged countries are being imported into Malaysia at a price lower than the selling price in their respective domestic markets, causing material injury to the domestic industry in Malaysia.
With the imposition of anti-dumping duties on imports of subject merchandise from the alleged countries, MITI said it expects the issue of unfair trade practices will be addressed.
The anti-dumping duties on imports from China are as follow: Angang Steel Company Ltd (4.82%), Maanshan Iron and Steel Co Ltd (4.76%), Shougang Jingtang United Iron & Steel Co Ltd (8.74%) and other producers (26.38%).
On the other hand, all imports from Japan will be subjected to a duty of 26.39%, while South Korean imports will be levied 3.84% with the exception of POSCO which is exempted from the duty.
As for Vietnam, products produced by POSCO Vietnam Co Ltd will be taxed 7.7% while other producers will face a duty rate of 20.13%.
The ministry said that the Royal Malaysian Customs Department will enforce the collection of anti-dumping duties and this measure will be effective for five years, from December 25, 2019 to December 24, 2024.
However, the government also made a final determination that the definitive anti-dumping duties will not be imposed on imports of tin mill black plate and subject merchandise for automotive and transformer’s finwall end-usage.
Source: TheSunDaily
