Malaysia enacts tax on rolled coil
Malaysia has imposed anti-dumping taxes ranging between 3.06 per cent and 23.78 per cent on cold rolled coil imported from Viet Nam, mainland China and South Korea.
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| A worker on a production line at SMC Trading Investment JSC's Coil Center in HCM City's Tan Tao Industrial Zone, which produces rolled coil. — VNA/VNS Photo Hoang Hai |
The Viet Nam Competition Authority under the Ministry of Industry and Trade announced on Wednesday that the Ministry of International Trade and Industry of Malaysia (MITI) issued the final conclusion of its anti-dumping investigations against imports of cold rolled coil imported from the countries.
Accordingly, Viet Nam will be levied an anti-dumping tax between 3.06 per cent and 13.68 per cent from Tuesday. The taxes would be applicable for five years.
The sanction concludes an anti-dumping review aimed at steel products imported from the three countries that was initiated on August 27, 2015, based on the petition filed by FIW Steel Sdn. Bhd., on behalf of the domestic industry producing Pre-Painted/Painted or Colour Coated Steel Coils (PPCCSC).
Products under investigation included cold rolled coils of alloy and non-alloy steel with thickness between 0.2mm and 2.6mm and width between 700mm and 1300 mm.
The products have HS code of 7209.15 000 7209.16 000 7209.17 000 7209.18 290 7209.18 900 and 7225.50 000.
MITI said the imported products hurt the domestic industry in Malaysia which was producing similar products.
This has been the second product exported from Viet Nam to Malaysia hit by anti-dumping taxes.
Vietnamese pre-painted, painted or colour coated steel coils were also slapped with the tax in October. — VNS
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