KL imposes anti-dumping duties on firms from 4 countries exporting iron coils, non-alloy steel

The duties were imposed after anti-dumping investigations regarding the export of the coils from the four countries.
The duties were imposed after anti-dumping investigations regarding the export of the coils from the four countries.PHOTO: BLOOMBERG

KUALA LUMPUR - Malaysia on Thursday (Dec 26) announced the imposition of anti-dumping duties on companies from China, Japan, South Korea and Vietnam exporting cold rolled coils of iron or non-alloy steel to Malaysia, specifically those more than 1,300mm in width.

The International Trade and Industry Ministry (Miti) said in a statement on its Facebook account that the duties were imposed after anti-dumping investigations regarding the export of the coils from the four countries.

The duties charged are between 3.84 per cent and 26.39 per cent, for five years from Wednesday (Dec 25) to Dec 24, 2024.

A government generally imposes anti-dumping duties as a protectionist move when it sees foreign imports it believes are priced below fair market value.

Miti said in its statement that it hopes the imposition of the anti-dumping duties will address "unfair trade practices".

After its probe, Miti said it has decided not to impose definitive anti-dumping duties on tin mill black plate and this material if it was to be used for automotive's and transformer's finwall end-usage, it added.

The companies from China named were Angang Steel Co, Maanshan Iron and Steel Co, Shougang Jingtang United Iron & Steel Co and "others".

"All producers/exporters" from Japan were in the list, while POSCO and "others" were named as those imposed with anti-dumping duties from South Korea.

From Vietnam, POCOS Vietnam Co and "others" were named.