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Preface investigation on Anti-dumping of steel wire rods concluded by Malaysian Govt

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by - 10/23/2012 7186 Views

Steel wire rods are exported by neighboring countries at much lower prices menacing the domestic steel industries in Malaysia

 

The first round of inquiry on anti-dumping has congregated enough evidence that Steel wire rods (SWR) are exported by Taiwan, Indonesia, South Korea and Turkey at a lower price compared to the market prices. The International Trade and Industry Ministry (Miti) revealed that the investigation was carried out as stated in Section 23 of the Countervailing and Anti-Dumping Duties Act 1993.

Up to 33.62% of anti dumping duties will be tolled on imports from the reckoned countries and will be brought into force from the date of Government gazette says the reports from Kuala Lumpur.

The final inventory of countries involved in such anti dumping would be established based on the verifying visits of foreign businesses into the country. On the whole this anti-dumping was brought to light when a petition was filed by Amsteel Mills Sdn Bhd on behalf of domestic producers of Steel Wire Rod.

Amsteel Mills Sdn Bhd claims that SWR originating from Taiwan, Indonesia, South Korea and Turkey are exported to Malaysia at cheaper rates when compared to the rates that the above mentioned country vends in its domestic market. The supplicant articulated that if this is not stopped now, such anti-dumping act will have radical brunt on the domestic SWR industries in Malaysia.  

For a detailed info on this topic, one can submit a request in black and white right away to “The International Trade and Industry Ministry (Miti)”.

Category : Metal

Tags : steel, dumping, SWR


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About Sangeetha Pillai

Stepping into this world on 24th August, I am the younger daughter of my parents.  I did my schooling at Sacred Heart Convent High School in Hubli (Karnataka). In a perplexity of deciding my higher studies I finally consoled my mind to go with Civil Engineering. Although my ac .... more info

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