NTC slaps anti-dumping duty on steel products

NTC slaps anti-dumping duty on steel products

KARACHI: National Tariff Commission (NTC) has slapped anti-dumping duties on steel products for a period of five years.

The commission imposed the anti-dumping duty in the range on 6.2 per cent to 17.3 per cent on steel products included: iron or non-alloy steel, rolled coils/sheets being imported and dumped from Taipei, the European Union, South Korea, and Vietnam.

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The NTC initiated an anti-dumping investigation on February 25, 2021 of the above-mentioned products after a complaint lodged by Aisha Steel (ASL) and International Steel (ISL).

Analysts at Topline Securities said that the commission made a preliminary determination in the case on August 23, 2021 and imposed a provisional anti-dumping duties ranging from 6.2 per cent to 17.3 per cent on imports of the investigated product for a period of 4 months.

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The NTC has now made an affirmative final determination of the Anti Dumping Duty (ADD) ranging from 6.2 per cent to 17.3 per cent for a period of five years effective from August 23, 2021. This imposition is a percentage on Cost & Freight (C&F) prices.

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This imposition is excluding CR Coils/ Sheets that are mainly used in automotive outer skins of four wheeler vehicles (auto grades) and Tin Mill Black Plate (TMBP) under this review.

Though, provisional duties on the same were already in place however final determination will clear any uncertainty over any future duty determination. This will bode well for flat steel manufacturer which includes ISL and ASL, amongst the listed players, the analysts said.

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