Australian Financial Review reported that an application from GFG Alliance’s InfraBuild to impose duties on steel bars exported from Taiwan. InfraBuild made a formal application for dumping duties to the Anti-Dumping Commission on Monday alleging steel bars have been sold in Australia at cheap prices, identifying two likely Taiwanese exporters Feng Hsin Iron and Steel Co Ltd and TS Steel Co Ltd. InfraBuild has alleged that steel distributors that buy its products are using the cheaper imported bars to negotiate lower prices. It claims that during quarters of rising volumes of dumped imports, there is a corresponding drop in quarterly sales volumes of Australian products, and that it has been unable to raise its prices sufficiently to maintain profits. The commission said there appears to be reasonable grounds to support a finding that the Australian industry had experienced injury in the form of reduced market share. The commission will investigate exports of Taiwanese steel bars between April 2020 and March 2021 to determine whether dumping has occurred. If it finds there is substance to InfraBuild’s claims, it can impose interim dumping duties after 60 days. A recommendation will be made to the Industry Minister by November 3. Australia’s housing construction sector and the renovations market are booming because of heavy demand triggered by the federal government’s HomeBuilder stimulus program, and ultra-low interest rates. The steel bars cited in the dumping application are used in commercial and residential construction, as well as mining and resource construction, engineering fabrication, manufacturing and transport. But the move has shaken the Australian construction sector, which says any reduction in imports could push up prices of materials to build infrastructure and houses. Australian Steel Association CEO Mr David Buchanan said “The products cited in the action had been imported into Australia without any issues for decades. It’s not good timing while the industry is trying to recover from COVID-19; we’ve got our members screaming for products. When dumping is called, it has a chilling effect on the overseas mills and creates more shortages.” InfraBuild operates a steel mill on the outskirts of Sydney at Rooty Hill, while a subsidiary, the Australian Steel Company, operates another mill at Laverton North on the fringes of Melbourne.
Australian Financial Review reported that an application from GFG Alliance’s InfraBuild to impose duties on steel bars exported from Taiwan. InfraBuild made a formal application for dumping duties to the Anti-Dumping Commission on Monday alleging steel bars have been sold in Australia at cheap prices, identifying two likely Taiwanese exporters Feng Hsin Iron and Steel Co Ltd and TS Steel Co Ltd. InfraBuild has alleged that steel distributors that buy its products are using the cheaper imported bars to negotiate lower prices. It claims that during quarters of rising volumes of dumped imports, there is a corresponding drop in quarterly sales volumes of Australian products, and that it has been unable to raise its prices sufficiently to maintain profits. The commission said there appears to be reasonable grounds to support a finding that the Australian industry had experienced injury in the form of reduced market share. The commission will investigate exports of Taiwanese steel bars between April 2020 and March 2021 to determine whether dumping has occurred. If it finds there is substance to InfraBuild’s claims, it can impose interim dumping duties after 60 days. A recommendation will be made to the Industry Minister by November 3. Australia’s housing construction sector and the renovations market are booming because of heavy demand triggered by the federal government’s HomeBuilder stimulus program, and ultra-low interest rates. The steel bars cited in the dumping application are used in commercial and residential construction, as well as mining and resource construction, engineering fabrication, manufacturing and transport. But the move has shaken the Australian construction sector, which says any reduction in imports could push up prices of materials to build infrastructure and houses. Australian Steel Association CEO Mr David Buchanan said “The products cited in the action had been imported into Australia without any issues for decades. It’s not good timing while the industry is trying to recover from COVID-19; we’ve got our members screaming for products. When dumping is called, it has a chilling effect on the overseas mills and creates more shortages.” InfraBuild operates a steel mill on the outskirts of Sydney at Rooty Hill, while a subsidiary, the Australian Steel Company, operates another mill at Laverton North on the fringes of Melbourne.
