Colour-coated steel imports subject to anti-dumping duties

Illustrative photo. (Source: Ministry of Industry and Trade)

The move came under a decision recently released by the Ministry of Industry and Trade.

In particular, the anti-dumping duties on Chinese colour-coated steel sheets will range from 3.45 - 34.27 per cent while those from the Republic of Korea (RoK) will be taxed at rates from 4.48 - 19.25 per cent.

The ministry has conducted an eight-month investigation into colour-coated steel sheets shipped from the two East Asian countries since last October, following complaints by domestic manufacturers about the dumping.

The ministry made joint efforts with stakeholders to mull over the impacts that the dumping of imported colour-coated steel sheets could have on the domestic industry.

The domestic steel industry was seen suffering considerable losses as a result of the imported products dumped from 3.45 - 34.27 per cent.

The dumped steel sheets put critical pressures on the domestic production and its key indicators, especially output, sales, revenue, benefits, market share, and inventories.

It is noteworthy that the last seven months of 2018 saw many domestic plants to halt their production due to negative impacts triggered by the dumping, subsequently causing a large number of workers to lose their jobs.

The ministry said that the implementation of temporary anti-dumping duties has been decided in reference with relevant State management agencies and in line with regulations of the World Trade Organisation (WTO).

However, imported materials used for the production of exports will be immune from the temporary anti-dumping duties.

The ministry will team up with competent agencies to review the extensive impacts that the dumped goods could have on the domestic industry. A consultancy meeting will be held to collect opinion from stakeholders.

The anti-dumping investigation is scheduled to conclude in the fourth quarter of 2019.