Malaysia has imposed anti-dumping duties on cold rolled iron or non-alloy steel coil imports from China, Japan, South Korea and Vietnam for five years, the Ministry of International Trade and Industry said on Thursday.

The highest duty of 26.39% was imposed on all Japanese producers, while a duty of 26.38% was set for most Chinese producers. South Korean exporters will face a 3.84% duty, except for POSCO 005490.KS, which had zero duty imposed. Different duties were set for certain firms in China and Vietnam.

The duties, specifically for coils of more than 1,300 mm width, come after the ministry concluded an anti-dumping investigation on behalf of the domestic industry.

The industry complained that material was "being imported into Malaysia at a price lower than the selling price in their respective domestic markets," the ministry said in a statement.

The duties came into effect on Wednesday and will be imposed until Dec. 24, 2024.

Source: Nasdaq