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According to the Ministry of Industry and Trade, Vietnam’s cold-rolled coil and non-alloy steel coil products, along with those of China, South Korea and Japan, will be imposed anti-dumping duties for five years by Malaysia. SGGP reports.
Particularly, steel products of POSCO Vietnam Co., Ltd will receive a 7.7 percent duty while those produced by other steel manufacturers will get a duty of above 20 percent.
Korean steel products will be levied the lowest tax of 3.84 percent while Japanese ones will be subjected to up to 26.39 percent tax and Chinese ones will be imposed duties ranging from 4.82 percent to 26.38 percent.
According to the Malaysian Ministry of International Trade and Industry, the Royal Malaysian Customs Department will collect anti-dumping duties in five years, starting from December 25, 2019.
The investigation was launched since March last year, based on the petition submitted by the Mycron Steel CRC Sdn, Bhd on the behalf of Malaysian cold-rolled coil manufacturers who alleged that steel products from these above four countries were imported into the country at lower prices than the selling prices in the domestic market, causing losses to the domestic industry in Malaysia.
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