Malaysia slaps duties on steel imports from China, South Korea and Vietnam
PETALING JAYA : The government has imposed provisional anti-dumping duties ranging from 3.86% to 57.90% on certain iron and steel imports from China, South Korea and Vietnam.
The investment, trade and industry ministry said the duties will take the form of bank guarantees, effective for up to 120 days starting July 7, pending a final determination by Nov 3.
This follows a preliminary investigation on Feb 6 into flat-rolled iron or non-alloy steel products coated with zinc using the hot-dip process, commonly known as galvanised steel coils or sheets.
Local steelmaker CSC Steel Sdn Bhd had lodged a petition, claiming that imports from the three countries were being sold below their domestic market prices, causing losses to Malaysian producers.
'The government has found that there was sufficient evidence to continue with further investigation on the importation of the subject merchandise from China, South Korea and Vietnam at dumped prices.
'The provisional measure is necessary to prevent further injury to the domestic industry,' the ministry said in a statement today.
Companies and exporters affected by the decision have until July 14 to submit feedback. A final decision will be made by Nov 3.
More information, including a public version of the findings, may be found at traderemedies.miti.gov.my.
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