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Australia probing steel-dumping complaint - BlueScope
02/07/2012 12:00
AMSTERDAM, June 27 (Reuters) - Australian Customs has launched an investigation into alleged dumping of steel hot-rolled coil from four Asian countries, following a complaint by BlueScope Steel, the country's largest steelmaker.
The investigation will cover steel hot rolled coil, a flat steel product mainly used in white goods and cars manufacturing, from Japan, Malaysia, South Korea and Taiwan, BlueScope said.
"BlueScope Steel supports free and fair trade and is concerned at the level of unfair competition in the Australian steel market," said Mark Vassella, chief executive for Australia and New Zealand.
A darkening outlook for the world economy has led to overcapacity in the steel industry, unleashing sales below production cost from Texas to Thailand, some executives have said. [ID: nL1E8HM0AH]
This is increasing the likelihood of ant-i dumping lawsuits being filed by steelmakers across the globe.
BlueScope estimated the dumped goods have caused material injury of about $50 million and said it could take up to six months before customs make a determination on the case.
The investigation will cover steel hot rolled coil, a flat steel product mainly used in white goods and cars manufacturing, from Japan, Malaysia, South Korea and Taiwan, BlueScope said.
"BlueScope Steel supports free and fair trade and is concerned at the level of unfair competition in the Australian steel market," said Mark Vassella, chief executive for Australia and New Zealand.
A darkening outlook for the world economy has led to overcapacity in the steel industry, unleashing sales below production cost from Texas to Thailand, some executives have said. [ID: nL1E8HM0AH]
This is increasing the likelihood of ant-i dumping lawsuits being filed by steelmakers across the globe.
BlueScope estimated the dumped goods have caused material injury of about $50 million and said it could take up to six months before customs make a determination on the case.
Wed, Jun 27 2012
By Silvia Antonioli;
Editing by Dan Lalor
Source: reuters.com
By Silvia Antonioli;
Editing by Dan Lalor
Source: reuters.com
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