Illustrative image (Source: VNA)Kuala Lumpur (VNA) – Malaysiahas concluded the investigation and decided to impose anti-dumping duties oncold rolled iron or non-alloy steel coil imports from China, Japan, theRepublic of Korea (RoK) and Vietnam.
Accordingly, steel products by POSCO Vietnam CoLtd will get a 7.7 percent duty, while cold rolled coils (CRC) manufactured byother producers are subjected to an over 20 percent tax.
Cold rolled coils from the RoK face the lowest3.84 percent duty and all of Japanese cold rolled coils will be taxed the mostat 26.39 percent. Duties ranging from 4.82-26.38 percent will be imposed on Chinesesteel products.
The duties will be effective for five years,beginning from December 25, 2019, according to the Malaysian Ministry ofInternational 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 localCRC producers.
The petitioner alleged that the subject merchandise from the alleged countriesare being imported into Malaysia at a price lower than the selling price intheir respective domestic markets, causing material injury to the domesticindustry in Malaysia.
The Malaysianministry imposed provisional anti-dumping duties on the subject merchandisefrom the mentioned countries for 120 days, from August 26.
Pham Quoc Anh, Trade Counsellor from the Vietnamese Embassy in Malaysia, saidthe Vietnamese Office for Commercial Affairs in the country has closelycoordinated with the Trade Remedies Authority of Vietnam under the Ministry ofIndustry and Trade during the investigation.
He suggested Vietnamese firms with similar products pay attention to theregulations if they want to made shipments to the country./.
VNA
