It is reported that Canadian International Trade Tribunal has lifted anti dumping duties on hot rolled steel plate from South Africa and Russia, saying they are not likely to harm Canadian steel producers. However, the tribunal ruled that anti dumping duties would continue on hot rolled steel plate from China.

It stated that the dumping of hot rolled steel plate from South Africa and Russia is unlikely to result in injury or retardation. It added that "The Canada Border Services Agency will therefore no longer impose anti dumping duties on these products."

Under international trade rules, dumping occurs when products are exported or sold in another country at prices below their cost in the producer's home market.

The Canadian press said that the anti dumping duties were imposed after Hamilton based Stelco, backed by other Canadian steel producers, brought a complaint in 1997 against several countries comprising South Africa, Russia and China, Mexico and Poland. Since then, all of Canada's major publicly traded steel producers have been bought by foreign companies and taken private, although they continue to operate.

It may be noted that Canada's decision to lift the anti dumping duties comes 3 months after a US International Trade Commission ruling to eliminate tariffs on hot rolled steel products from South Africa.

from www.inet.co.za

07 Apr, 2009

Source: steelprices-india.com