Malaysia levies anti-dumping tax on Chinese steel wire rods

KUALA LUMPUR - The Malaysian government announced on Monday it will impose anti-dumping duties on steel wire rods imports from China, China's Taiwan, Indonesia and South Korea for five years beginning Feb 20.

It said it will levy duties for the first time in the steel industry of 3.03 percent to 25.2 percent on products from the three countries.

The decision came after the ministry of international trade and industry completed an investigation launched in June last year into complaints by a domestic producer that steel wire rod imports from the three countries and Turkey, sold at a much lower price, were hurting the domestic industry.

China's Jiangsu Shagang International Trade Co Ltd and Jiangsu Yonggang Group Co Ltd, and Indonesia's P.T. Ispat Indo are exempted from the duty.

The government freed Turkish manufacturers of anti-dumping duties after it found imports from Turkey have a dumping margin of below 2 percent.