AFR reported that Australia’s largest steelmaker BlueScope has been successful in an application to have anti-dumping duties extended on hot-rolled coil steel from Taiwan after warning federal authorities of a flood of excess steel headed for Australia as the economy in China slows. The Anti-Dumping Commission agreed and Federal Industry Minister Mr Ed Husic signed off in late November on dumping duties of up to 5.5% which apply to Taiwan makers of hot-rolled coil steel selling into Australia. The ruling applies from 20 December when existing measures were due to expire.Chung Hung Steel - 5.1%China Steel Corp - 3.2%Shang Chen Steel – 2%All other – 5.5% The Anti-Dumping Commission report found that price is a major factor in the purchasing decisions of customers and that imports from Taiwan during the inquiry period have generally been the lowest priced in the Australian market and they had sometimes undercut the Australian industry’s selling prices. The Anti-Dumping Commission also found that Taiwan has been the most consistent and materially significant source of hot-rolled coil imported into the Australian market. The Commission found that Taiwanese exporters have total spare production capacity greater than the total size of the Australian hot-rolled coil market, and that capacity “cannot be idled in an economic downturn. Some of it would be directed towards the Australian market in the absence of anti-dumping measures. Anti-dumping duties were imposed on steel from Taiwan in 2012 and were continued in 2017. The Anti-Dumping Commission found Taiwanese hot-rolled coil consistently comprised a significant proportion of the total amount imported into Australia. It found that while prices increased significantly during the inquiry period as demand from the construction and infrastructure industries increased during the pandemic, this was likely to recede as supply and demand normalized. A letter on 11 September to the Anti-Dumping Commission from BlueScope warned that if the anti-dumping duties weren’t maintained then prices will fall below non-injurious measures. The BlueScope application cited an assessment on August 10 that prices are coming under pressure Steel production is being cut due to squeezed margins, amid surging costs and falling prices. Prices are expected to continue to trend lower for the remainder of 2022 as supply improves, global economic growth slows, and China’s real estate sector remains subdued.”
AFR reported that Australia’s largest steelmaker BlueScope has been successful in an application to have anti-dumping duties extended on hot-rolled coil steel from Taiwan after warning federal authorities of a flood of excess steel headed for Australia as the economy in China slows. The Anti-Dumping Commission agreed and Federal Industry Minister Mr Ed Husic signed off in late November on dumping duties of up to 5.5% which apply to Taiwan makers of hot-rolled coil steel selling into Australia. The ruling applies from 20 December when existing measures were due to expire.Chung Hung Steel - 5.1%China Steel Corp - 3.2%Shang Chen Steel – 2%All other – 5.5% The Anti-Dumping Commission report found that price is a major factor in the purchasing decisions of customers and that imports from Taiwan during the inquiry period have generally been the lowest priced in the Australian market and they had sometimes undercut the Australian industry’s selling prices. The Anti-Dumping Commission also found that Taiwan has been the most consistent and materially significant source of hot-rolled coil imported into the Australian market. The Commission found that Taiwanese exporters have total spare production capacity greater than the total size of the Australian hot-rolled coil market, and that capacity “cannot be idled in an economic downturn. Some of it would be directed towards the Australian market in the absence of anti-dumping measures. Anti-dumping duties were imposed on steel from Taiwan in 2012 and were continued in 2017. The Anti-Dumping Commission found Taiwanese hot-rolled coil consistently comprised a significant proportion of the total amount imported into Australia. It found that while prices increased significantly during the inquiry period as demand from the construction and infrastructure industries increased during the pandemic, this was likely to recede as supply and demand normalized. A letter on 11 September to the Anti-Dumping Commission from BlueScope warned that if the anti-dumping duties weren’t maintained then prices will fall below non-injurious measures. The BlueScope application cited an assessment on August 10 that prices are coming under pressure Steel production is being cut due to squeezed margins, amid surging costs and falling prices. Prices are expected to continue to trend lower for the remainder of 2022 as supply improves, global economic growth slows, and China’s real estate sector remains subdued.”
