Malaysia's Ministry of International Trade and Industry (MITI) has announced anti-dumping tax on steel imports from Vietnam and China.

In a statement today, MITI listed down the company names and anti-dumping tax percentage to be imposed.

MITI listed Angang Steel Company Limited will be taxed 10.02 per cent, Bengang Steel Plates Co. Ltd. at 10.62 per cent, BX Steel POSCO Cold Rolled Sheet Co. Ltd. at 5.47 per cent, Fujian Kaijing Greentech Material Co. Ltd. at -5.11 per cent, Jiangyin ZongCheng Steel Co. Ltd. at 5.95 per cent, Rizhao Baohua New Material Co. Ltd. at 3.75 per cent, Shandong Huijin Color Steel Co. Ltd. at 4.33 per cent, Tianjin Haigang Steel Coil Co. Ltd. at -4.66 per cent, Yieh Phui (China) Technomaterial Co. Ltd. at 3.76 per cent and other producers/exporters at 16.13 per cent.

As for imports from Vietnam, MITI named China Steel Sumikin Joint Stock Company to be imposed anti-dumping duties amounting 3.76 per cent, Hoa Sen Group at -3.34 per cent, Nam Kim Steel Joint Stock Company at 2.66 per cent and other producers/exporters at 15.69 per cent.

MITI said the Royal Malaysian Customs Department will enforce the collection of anti-dumping duties for five years, from today until March 7, 2024.

MITI said it had conducted and completed a detailed investigation on producers and importers in Malaysia, as well as producers/exporters from the alleged countries in accordance with the Countervailing and Anti-Dumping Duties Act 1993.

On August 25, 2018, MITI initiated an anti-dumping investigation based on a petition filed by FIW Steel Sdn. Bhd. on behalf of the domestic industry producing 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).

With the imposition of anti-dumping duties on 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 alleged countries, MITI expects to solve current problems of unfair trade practices.

March 9, 2019
Source: New Straits Times