Malaysia has concluded the investigation and decided to impose anti-dumping duties on cold rolled iron or non-alloy steel coil imports from China, Japan, the Republic of Korea (RoK) and Vietnam.
Illustrative image (Source: VNA)
Accordingly, steel products by POSCO Vietnam Co Ltd will get a 7.7 percent duty, while cold rolled coils (CRC) manufactured by other producers are subjected to an over 20 percent tax.
Cold rolled coils from the RoK face the lowest 3.84 percent duty and all of Japanese cold rolled coils will be taxed the most at 26.39 percent. Duties ranging from 4.82-26.38 percent will be imposed on Chinese steel products.
The duties will be effective for five years, beginning from December 25, 2019, according to the Malaysian Ministry of International Trade and Industry (MITI).
The investigation was started on March 29 2019, based on the petition lodged by Mycron Steel CRC Sdn Bhd, on behalf of local CRC producers.
The petitioner alleged that the subject merchandise from the alleged countries are being imported into Malaysia at a price lower than the selling price in their respective domestic markets, causing material injury to the domestic industry in Malaysia.
The Malaysian ministry imposed provisional anti-dumping duties on the subject merchandise from the mentioned countries for 120 days, from August 26.
Pham Quoc Anh, Trade Counsellor from the Vietnamese Embassy in Malaysia, said the Vietnamese Office for Commercial Affairs in the country has closely coordinated with the Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade during the investigation.
He suggested Vietnamese firms with similar products pay attention to the regulations if they want to made shipments to the country.