Aid coming for steel firms affected by Malaysia tariffs
CNATAIPEI -- The Ministry of Economic Affairs (MOEA) said yesterday it will help local steelmakers affected by Malaysia's anti-dumping tariffs on steel wire rod imports from Taiwan, among other countries.
February 20, 2013, 12:12 am TWN
The MOEA said that while it has not yet been formally informed of Malaysia's anti-dumping action, it is determined to provide any necessary assistance to local steel makers who may be affected.
The ministry said once it receives a notice on the matter from Taiwan's representative office in Malaysia, it will contact the affected local exporters to find out if they need help.
If the affected companies find any flaws with the Malaysian government's investigation, the Taiwan government will deal with the problem via bilateral or multilateral negotiation channels, the ministry said.
The Malaysian government announced Monday that it has imposed anti-dumping duties of up to 25.2 percent on steel wire rod imports from Taiwan, China, Indonesia and South Korea following an investigation, according to foreign wire services. The names of the foreign companies that will be hit by the tariffs were not disclosed.
The probe was launched after Amesteel Mills Sdn Bhd, a unit of Lion Corp. of Malaysia, claimed that imports of steel wire rods had caused “material injury” to the Malaysian market because the imports were priced lower than in the country of origin, the reports said.
The anti-dumping tariffs will take effect Wednesday and remain in place for five years, according to the reports.
China Steel Corp., Taiwan's largest steel maker, said it is in the process of verifying the reports, while the Taiwan Steel & Iron Industries Association said it is in talks with the Malaysian government to solve the problem.
Citing sources close to the matter, China Steel said it could face anti-dumping duties of around 10 percent instead of the maximum 25.2 percent.
Currently, China Steel exports 20,000 to 25,000 metric tons of steel wire rods per quarter to Malaysia, according to the company.