The move comes following the MITI issuing a final conclusion regarding the anti-dumping investigation into cold rolled stainless steel which originates from both Vietnam and Indonesia.
Following this enquiry, the MITI has decided to impose anti-dumping tax on goods imported from both countries, with the applicable tax rate ranging between 7.81% and 23.84% for Vietnamese producers, and from – 0.2% to 34.82% for Indonesian exporters.
In line with this decision, the anti-dumping tax rate will take effect for five years from April 24, 2021, to April 23, 2026.
The MITI officially launched an investigation into the case on July 28, 2020, based on the request made by the domestic steel industry represented by Bahru Stainless Stn. Bhd.
Goods subject to the investigation include cold rolled stainless steel coded 7219.31.00.00, 7219.32.00.00, 7219.33.00.00, 7219.34.00.00, 7219.35.00.00, 7220.20.10.00, and 7220.90.00.
The MITI announced on December 28, 2020, the preliminary conclusion of the case, deciding to apply a temporary anti-dumping tax in order to prevent damage for its domestic manufacturing industry within 120 days.
The temporary tax rate ranged between 7.73% and 34.82% for both Vietnamese and Indonesian exporters.
In response to this, the Vietnamese Ministry of Industry and Trade imposed temporary anti-dumping measures on some H-shaped steel products originating from Malaysia, with tax rates of 10.2% placed on Malaysian producers.
The final conclusion is anticipated to be released in the second quarter of this year.