Malaysian construction industry backs barriers to Chinese, Indonesian and Korean HRC
Malaysia’s Construction Industry Development Board (CIDB) has said that potential anti-dumping duties on imports of hot rolled coil from China, Indonesia and Korea would help ensure safety in the domestic construction industry. This move would also support local HRC producers, CIDB says.
The cheap imports are being bought for inappropriate purposes and in the wrong dimensions simply because they are so cheap, the board alleges. “We want to make sure construction players are buying their raw materials from proper channels,” CIDB chief executive Datuk Seri Ir Dr Judin Abdul Karim is quoted as saying in the Malaysian Reserve.
The country’s Ministry of International Trade and Investment (MITI) began an investigation into HRC dumping in June and has determined preliminary duties of 3.15-29.37% on HRC from China, Indonesia and South Korea, Kallanish notes.
While the duties may or may not improve safety in construction, they will almost certainly be a boon to the petitioner in the case, Malaysia’s sole HRC producer Megasteel, a subsidiary of Lion Group. Two new players in the market which plan to commission by the end of 2014 will also gain. Eastern Steel is starting up a 700,000 tonnes/year slab making plant, while Southern Steel is planning a 700,000 t/y compact strip mill.
Malaysia is also investigating dumping of Chinese and Korean rebar and has imposed safeguard duties on imports of plate from China, Indonesia and Korea.
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Anonymous
Very good overview of the weekly steel market.
Anonymous