Source: The Edge
The Government is imposing anti-dumping duties up to 16.13% against certain flat-rolled steel products imported from China and Vietnam starting today after completing an investigation into alleged unfair trade practices.
The Ministry of International Trade and Industry (Miti) said the Customs Department will enforce the collection of anti-dumping duties, which is imposed on the imports of flat-rolled product of iron alloy or non-alloy steel, plated or coated with zinc, using hot dip process (galvanised iron coils/sheets or galvanised steel coils/sheets — galvanised iron) from the two countries.
The duties will be in effect for five years until March 7, 2024, Miti said in a statement.
The Ministry said it expects the issue of unfair trade practices to be addressed with the imposition of the anti-dumping duties.
It decided on the anti-dumping duties after concluding its investigation that was initiated on Aug 25 last year, following a petition filed by FIW Steel Sdn Bhd on behalf of the domestic industry that produces the above-mentioned flat-rolled products.
“The petitioner alleged that imports of the said product originating in or exported from the People’s Republic of China and Socialist Republic of Vietnam were being imported into Malaysia at a price lower than the selling price in their respective domestic markets.
“The petitioner claimed this was causing material injury to the domestic industry in Malaysia producing the like product,” Miti added.