Sunday, December 11 2016

VietNamNews

Malaysia enacts tax on rolled coil

Update: May, 28/2016 - 09:00
A worker on a production line at SMC Trading Investment JSC’s Coil Center in HCM City’s Tân Tạo Industrial Zone, which produces rolled coil. — VNA/VNS Photo Hoàng Hải
Viet Nam News

HÀ NÔI – Malaysia has imposed anti-dumping taxes ranging between 3.06 per cent and 23.78 per cent on cold rolled coil imported from Việt Nam, mainland China and South Korea.

The Việt 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, Việt Nam will be levied an anti-dumping tax between 3.06 per cent and 13.68 per cent from May 24, 2016. 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 a 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 0.2 mm and 2.6 mm and widths between 700 mm and 1300 mm. The products have HS codes of  7209.15 000, 7209.16 000, 7209.17 000, 7209.18 290, 7209.18 900 and 7225.50 000 (AHTN Codes: 7209.15.00, 7209.16.00, 7209.17.00, 7209.18.99, 7225.50.10 and 7225.50.90).

MITI said the imported products hurt the domestic industry in Malaysia that was producing similar products. This had been the second product exported from Việt Nam to Malaysia hit by anti-dumping taxes. Vietnamese pre-painted, painted or colour coated steel coils were also slapped with a tax in October. – VNS

Send Us Your Comments:

See also: