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
Posted on: 2024-05-10T11:59:23+05:00
