Govt slaps provisional tariff on Chinese, Korean, Vietnamese steel products

The imposition of a provisional duty on certain Chinese, Korean and Vietnamese steel products will be effective from today. (Reuters pic)

PUTRAJAYA: The government has imposed a provisional anti-dumping duty on certain steel products from China, South Korea and Vietnam as it continues an investigation into the matter.

It will be effective for not more than 120 days from today.

Dumping is the practice of exporting a product at a price lower than that at which it is sold domestically.

The international trade and industry ministry said in a statement today that it had begun its investigation following a complaint from NS BlueScope (Malaysia) Sdn Bhd, which claimed that the three countries were exporting aluminium and zinc-plated flat rolled non-alloy steel at a price lower than that of the Malaysian market, undercutting local producers.

The ministry said after completing its preliminary investigation, it had uncovered enough evidence to continue its probe into the matter.

It added that the government had decided to impose a provisional anti-dumping duty of 2.17% to 37.14% on imports of these products.

The investigation is being conducted under Section 23 of the Countervailing and Anti-Dumping Duties Act 1993.

The ministry said a final decision on the matter would be made by Dec 11.