Five-year anti-dumping duties on China wires

06/01/2014 12:00 - 456 Views

PETALING JAYA: The Malaysian Customs will collect anti-dumping duties for five years from tomorrow to address unfair trade practices on the domestic 7 wires pre-stressed concrete strand (7 wires PC strand) industry.

In a press statement released by the International Trade and Industry Ministry, it said the Government had finalised the final determination of its anti-dumping investigation based on a petition by Southern PC Steel Sdn Bhd on behalf of the local industry.

“With the imposition of the duties on imports of 7 wires PC strand from China, it is expected that the issue of unfair trade practices will be addressed,” the ministry said.

The duties imposed on the imports of 7 wires PC strand from China are 5.93% forChongqing Longtai Rare Earth & New Materials Co Ltd, 7.47% for Hunan Xianghui Metal Products Co Ltd, 8.71% for Silvery Dragon Pre-stressed Materials Co Ltd, and 8.71% for others.

The Government had on April 10 initiated an anti-dumping investigation based on the petition filed by Southern PC Steel which alleged that imports of 7 wires PC strand originating in or exported from China were being imported into Malaysia at a price much lower than the price in the domestic market of China, causing material injury to the domestic industry in Malaysia.

Source: TheStar.com.my