The Royal Malaysian Customs will enforce the collection of anti-dumping duties on steel wire rods imported from selected companies from four countries for five years from 20 February 2013.
Varying level of duties will be imposed on companies from Taiwan, China, Indonesia and South Korea, but not Turkey.
The decision to collect the anti-dumping duties was taken after the completion of an anti-dumping investigation initiated by the government following a petition from the local industry which had alleged that steel wire rods were being exported to Malaysia at a price much cheaper than in the domestic markets of the four countries and also from Turkey.
In a statement issued in Kuala Lumpur, the Ministry of International Trade and Industry(MITI) said the anti-dumping duties imposed on the imports of steel wire rods on two companies from Taiwan, namely China Steel Corp and Feng Hsin Iron and Steel Co Ltd will be 10.98% and 9.04% respectively while most other companies from the four countries will have a 25.2% duty imposed, but some will be exempt.
No duty will be imposed on two companies from China, namely Jiangsu Shagang International Trade Co Ltd and Jiangsu Yonggang Group Co Ltd, but other Chinese companies would face a duty of 25.20%.
Imports from Indonesia would also face a 25.20% duty except for PT Ispat Indo, while companies from South Korea face a 25.20% duty except for POSCO.
The government also proposed the investigation be terminated without any anti-dumping duties on imports of steel wire rods from Turkey due to the dumping margin being below 2%.
The petition on steel wire rod dumping was filed by Amsteel Mills Sdn Bhd on behalf of the domestic industry which had said that the local industry had been affected by the dumping. The scope of product under investigation covered steel wire rods with carbon content below 0.6%.
Source: ‘Bernama’ (National News Agency of Malaysia), Kuala Lumpur; 19 Feb 2013