MITI Begins Investigation On AntiI-Dumping On Import Of Steel Bar From China, Korea

KUALA LUMPUR, Sept 3 (Bernama) -- The Ministry of International Trade and Industry (MITI) Wednesday said it has decided to initiate a preliminary investigation on imports of steel concrete reinforcing bar in straight length form originating from China and South Korea. In a statement Wednesday, MITI said it had received a petition from a domestic producer for the imposition of anti-dumping duty on imports of the steel products. "The petitioner alleges that imports of steel concrete reinforcing bar in straight length form originating from China and South Korea are being dumped into Malaysia at a price much lower than the price in the domestic market of the alleged countries, and this is causing material injury to the local market in Malaysia," MITI said. The petitioner further claims that imports from the alleged countries have increased in absolute terms. As a result, the petitioner had suffered material injury, among others, increase in import volume, price undercutting, price depression, price suppression, reduction in employment and wages, loss of profit and return on investment. MITI said in accordance with the Countervailing and Anti-Dumping Duties Act 1993 and its related Regulations, a preliminary determination would be made within 120 days from the date of the initiation. "If the final determination is affirmative, the Government may impose an anti-dumping duty at the rate that is necessary to prevent further injury," MITI added. -- BERNAMA