Malaysia says VN is dumping steel

The Ministry of Industry and Trade is checking the country's steel exports following information that Malaysia is investigating Vietnamese cold rolled stainless steel for dumping. File Photo

According to the Malaysian Ministry of International Trade and Industry, the countries and territories are Taiwan, France, Hong Kong, Japan, China, Finland, Indonesia, South Korea and Viet Nam.

The Malaysian investigation is in response to a petition from a domestic producer calling for the imposition of anti-dumping duty on imports of cold rolled stainless steel.

The Malaysian maker said that the steel was being dumped in Malaysia at prices much lower than on the domestic markets of those countries.

A representative from the Vietnamese Ministry of Industry and Trade, said Vietnamese cold rolled stainless steel was being investigated because its export prices to Malaysia had fallen for three consecutive years.

Statistics from Malaysia showed that Viet Nam exported about 3,583 tonnes stainless steel into Malaysia during the investigation period, accounting for about 2.8 per cent of Malaysia's imports.

A set of questionnaires has been sent to importers, producers, exporters and associations by the Ministry of Industry and May 28 set as the deadline for providing additional evidence. Six Vietnamese companies are under investigation.

In accordance with the Countervailing and Anti-Dumping Duties Act 1993 and its related regulations, a preliminary determination will be made within 120 days from the date of initiation.

Late last year, Viet Nam, for the first time, decided to apply anti-dumping duties on certain products of cold rolled stainless steel imported from Malaysia, Indonesia, China and Taiwan at rates ranging between 3.07 per cent to 37.29 per cent.

Statistics from the Viet Nam Chamber of Commerce and Industry showed that as of October, 2014, Viet Nam faced 47 cases of anti-dumping. During 1994-2013, the country also encountered 52 investigations on anti-dumping initiated by 15 countries.