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MoIT sustains anti-dumping duty on Malaysia’s H-shaped steel
VietNamPlus - 8/24/2021 4:12:09 PM
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 The Ministry of Industry and Trade (MoIT) has decided to maintain the anti-dumping measure imposed on some H-shaped steel products from Malaysia since April 2021.
 
The MoIT launched an anti-dumping probe into H-shaped steel products imported from Malaysia on August 24, 2020.
 
It noted that before 2017, Malaysia had not produced and exported H-shaped steel to Vietnam.
 
However, after Vietnam levied anti-dumping duties on H-shaped steel from China in 2017, Malaysia’s exports of similar products to Vietnam have risen strongly, to over 213 billion VND (9.3 million USD at the current exchange rate) in 2019 and 848 billion VND in 2020.
 
As there were signs of H-shaped steel manufactured in Malaysia and then exported to Vietnam to circumvent the anti-dumping duties on similar products from China, the MoIT decided to impose an anti-dumping tax rate of 10.64 percent on some products hailing from Malaysia.
 
This rate is lower than the current duty on H-shaped steel imported from China, about 22 percent on average, and also lower than the rate proposed by domestic manufacturers, 16.3 percent.
 
This anti-dumping duty could be reviewed and adjusted as in line with legal regulations.
 
The MoIT said it will keep coordinating with relevant ministries and sectors to monitor the impact of trade remedies to take measures to stabilise the steel market in accordance with law and to protect legitimate interests of producers and consumers./.
VNA
 
Read original article here
 
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