Government to help firms affected by Malaysia move

Staff writer, with CNA

Wed, Feb 20, 2013 - Page 13

The Ministry of Economic Affairs (MOEA) yesterday said it would help local steelmakers affected by Malaysia’s anti-dumping tariffs on steel wire rod imports from Taiwan, among other countries.

The ministry 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 steelmakers 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, Taiwan’s government will deal with the problem via bilateral or multilateral negotiation channels, the ministry said.

The Malaysian government announced on 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, said 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 today and remain in place for five years, according to the reports.

China Steel Corp (中鋼), Taiwan’s largest steelmaker, said it was verifying the reports.

Meanwhile, the Taiwan Steel and Iron Industries Association (台灣鋼鐵公會) said it was in talks with the Malaysian government.

Citing sources close to the matter, China Steel said it could face anti-dumping duties of about 10 percent instead of the maximum 25.2 percent.

China Steel exports between 20,000 and 25,000 tonnes of steel wire rods per quarter to Malaysia, the company said.