Source: The Star Online
The Government will impose definitive safeguard duties for steel concrete reinforcing bar (rebar) and steel wire rods & deformed bar in coils (SWR & DBIC) for the next three years.
In a statement, the International Trade and Industry Ministry (Miti) said this followed two safeguard investigations on imports of these products launched in May last year based on petitions filed by the Malaysia Steel Association on behalf of the domestic industry.
The petition alleged that the increased importation of both products into Malaysia had seriously injured the domestic industry.
“During the investigations, the Government assessed the issues and concerns submitted by all interested parties in accordance with the Safeguards Act 2006 and Safeguards Regulations 2007,” it said.
“The non-confidential version of the final determination report of the investigations will be available at Miti Resource Centre in Kuala Lumpur.
The duty for rebar is 13.42% for the year ending April 13, 2018, followed by 12.27% and 11.1% in the next two years respectively.
For SWR & DBIC, the duty starts at 13.9% for the year ending April 14, 2018, and falls to 12.9% and 11.9% in the two subsequent years.
For SWR & DBIC, the definitive safeguard duties will exclude products with carbon content of 0.60% or more, or diameter greater than 16.0mm; products imported for the end-usage purposes of automotive, electrical and electronic, oil and gas; and DBIC imported for the end-usage purposes of earthquake-proof construction industries of all grades and specifications.