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Thailand extends antidumping duties on steel imports for another 5 years


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Thailand extends antidumping duties on steel imports for another 5 years

The Thai government renewed an antidumping duty imposed on cold-reduced coiled and uncoiled carbon steel from China, Vietnam and Taiwan for five years to limit supply from the three countries, Bangkok Post reported Dec. 19.

Commerce Minister Jurin Laksanawisit, who headed a meeting of the antidumping and countervailing committee, said the decision was reached after a probe showed that dumping from the three Asian nations persisted, according to the report.

Since 2014, the Southeast Asian nation has imposed antidumping tariffs between 4.22% and 20.11% of cost, insurance and freight prices. The tariff expired in February but was extended to February 2020. The latest extension will take effect after the February 2020 expiration.

Thailand imported 1.05 million tonnes of cold-reduced carbon steel in 2018, and China, Vietnam and Taiwan accounted for 20,835 tonnes. The figure was a surge from 892,529 tonnes in imports during 2017, Bangkok Post added.

The country's consumption of steel products is pegged at 19.3 Mt per year, with about 12 Mt coming from imports, according to the report.

Meanwhile, four Thai steel associations are asking the government to enact a policy that will support the use of domestic-made steel products, specifically steel wire rods and reinforced steel bars, in state infrastructure projects.