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Govt mulling anti-dumping duty on steel wire rods

June 29, 2012

The Ministry of International Trade has launched an investigation following a petition complaining the cheap imports have hurt domestic industry.

KUALA LUMPUR: The government is launching a preliminary investigation on imports of steel wire rods from China, Chinese Taipei, Indonesia, South Korea and Turkey after it has received a petition complaining the cheap imports have hurt domestic industry.

The petition from a domestic steel producer claimed that it has suffered from price undercutting, low production, decline in profits and negative return on investment, among others.

“The petitioner further claims that imports from the alleged countries have increased in terms of absolute quantity… the government has determined that there was sufficient evidence of dumping, injury and causal link,” the Ministry of International Trade said in a statement today.

“If the final determination is affirmative, the government may impose an anti-dumping duty at the rate that would rectify the situation.”

The ministry requested that interested importers, foreign producers, exporters and associations to reply to a set of questionnaires prepared by the ministry by Aug 5 with supporting evidence.

– XinHua


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