The introduction of two Anti-Dumping Commission recommendations to improve dumping duties on imported Chinese-made steel will provide local manufacturers with an opportunity to compete on a level playing field, said Minister for Industry, Innovation and Science, Christopher Pyne.
According to the commission’s findings, Chinese steel reinforcing bar is being dumped at margins from 11.7% to 30% and Chinese rod in coil is being dumped at margins from 37.4% to 53.1%, which causes material injury to Australia’s steel industry.
Mr Pyne said duties applying to rod in coil from China will range from 37% to 53% of the export price depending on the exporter, while reinforcing bar from China will be subjected to a fixed duty ranging from 11.7% to 30% depending on the exporter, as well as an additional duty should the export price fall below a specified floor price.
He said the implementation of these anti-dumping decisions ensured that Australian steel manufacturer Arrium can compete on a level playing field with foreign exporters from countries such as China, South Korea and Taiwan.
“Australia takes pride in the quality and reliability of locally-produced steel products, so it’s only reasonable that our manufacturers compete in a fair market,” Mr Pyne added.
“The Australian Government is working to sustain the local steel industry, while acting within World Trade Organisation rules.”
Assistant Minister Andrews told the OECD Steel Symposium in Brussels last week that Australia’s anti-dumping reforms were tailored to ensure that the country’s steel industry is not “disadvantaged by the unfair practices of foreign companies”.
“There are currently some 44 anti-dumping measures in place on 12 steel products from 14 countries and we will be closely monitoring the effect of our reforms and developments in other countries to determine whether further changes are warranted,” she said.
“The Commissioner has found that, during the investigation period, the dumping of these imports caused material injury to the Australian industry manufacturing steel reinforcing bar and rod in coil.