Anti-dumping decision to benefit Australia's steel industry
Anti-dumping duties will be imposed on steel reinforcing bar (rebar) exported to Australia from Korea, Singapore, Spain and Taiwan following a decision by Assistant Minister for Science, Karen Andrews.
Andrews said the decision followed a significant investigation and would help level the playing field for Australia's steel industry.
"This investigation involved seven countries and is the second largest anti-dumping investigation undertaken by the Anti-Dumping Commission in terms of the number of countries involved," Andrews said.
"It will assist the local manufacturer of rebar, OneSteel, to compete with overseas manufacturers and allow the Australian industry to stay in the game," Andrews said.
This move followed an investigation by the Commission which found that rebar was imported to Australia at dumped prices.
"The dumping of rebar into the local market has caused injury to the Australian manufacturer," Andrews said.
The dumping duties on imported rebar from Korea, Singapore, Spain and Taiwan would range between 2.8 and 14.3 per cent.
OneSteel is Australia's sole producer of rebar, manufacturing rebar products at Sydney, Laverton and Newcastle. The size of the Australian market was approximately 900,000 tonnes in 2014-15.
Dumping occurs when the export price to Australia is below the selling price, or below the full cost of the product, in the country of export.
Further details on the decision are available at http://www.adcommission.gov.au/
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