Anti-dumping duties of 19.15% on steel rebar imports from China to continue for 5 years

News Image

By MG News | May 10, 2024 at 11:59 AM GMT+05:00

0:00

May 10, 2024 (MLN): The National Tariff Commission (NTC) has decided to continue anti-dumping duty on imports of deformed concrete reinforcing steel bars into Pakistan from China, said a notice issued by the commission on Friday.

The anti-dumping duty of 19.15% imposed on imports of steel rebars from China will continue for five years.

After imposition of anti-dumping duty, the volume of dumped imports of Rebars has significantly decreased, which impacted positively on production, sales, and prices of Rebars, the commission said.

As there is likelihood of continuation and recurrence of dumped imports of Rebars from China, therefore, there is likelihood of significant increase in volume of dumped imports of Rebars from China, in case antidumping duty is terminated, it added.

“In view of the analysis and conclusions with regard to likely continuation of dumping of Rebars from China and likely material injury to the domestic industry, there is a need to continue imposition of definitive anti-dumping duty on dumped imports of Rebars from China,” reads the notice.

The product includes deformed steel concrete reinforcing bars (Rebar) in straight lengths, U-bends or coils.

Such deformed steel concrete reinforcing bars are in various diameters up to and including 40 MM, in various finishes including indentation, ribs, groves or other deformations excluding plain round bars, imported from China.

The raw materials used in production Rebars are steel billets.

Background

In 2016, Amreli Steels (PSX: ASTL), Agha Steel Industries (PSX: AGHA), and Abbas Engineering Limited had approached the commission to impose anti-dumping duty on imports of rebar from China.

NTC had reviewed the application and imposed the anti-dumping duty of 19.15% for a period of five years with effect from October 23, 2017.

Later, a sunset review was filed on July 18, 2022, by ASTL, AGHA, and Mughal Steels (PSX: MUGHAL).

After reviewing the application, NTC continued the duties for further five years with effect from October 17, 2022.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 127,367.33
99.86M
1.39%
1740.01
ALLSHR 79,333.60
303.02M
0.95%
748.89
KSE30 38,764.96
24.29M
1.60%
611.18
KMI30 186,511.59
34.13M
0.88%
1625.09
KMIALLSHR 54,095.93
158.81M
0.62%
332.13
BKTi 32,501.72
25.94M
1.82%
580.04
OGTi 27,795.71
1.30M
0.08%
21.73
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 107,405.00 108,105.00
107,290.00
-830.00
-0.77%
BRENT CRUDE 66.43 66.63
66.34
-0.31
-0.46%
RICHARDS BAY COAL MONTHLY 97.00 97.00
97.00
1.05
1.09%
ROTTERDAM COAL MONTHLY 107.65 107.65
105.85
1.25
1.17%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 64.77 65.02
64.67
-0.34
-0.52%
SUGAR #11 WORLD 16.19 16.74
16.14
-0.52
-3.11%

Chart of the Day


Latest News
July 01, 2025 at 09:56 AM GMT+05:00

PSX Opening Bell: Green and Growing


July 01, 2025 at 09:30 AM GMT+05:00

Asia markets mixed amid tariff uncertainty


July 01, 2025 at 06:00 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg