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CSC Steel Holding to switch to CRC import if safeguard on HRC imposed in Malaysia-The 17th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
12/31/2015 Stainless Steel Industry expo |
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The Edge Financial Daily reported that CSC Steel Holdings Bhd, a 46.055%-owned subsidiary of Taiwan¡¯s China Steel Corp through China Steel Asia Pacific Holdings Pte Ltd, said it stands ready to face any adverse business conditions facing the domestic steel industry including imposition of safeguard duties on imported hot-rolled coils
Its managing director Steve Chen Chung-Te said the steelmaker is considering buying cold rolled coils instead of HRCs, a key raw material in cold-rolled steel making, to produce its flat steel products.
He told ¡°We might opt to buy CRCs instead of HRCs in order to avoid paying extra on anti-dumping import duties on HRCs. However, this requires making some adjustments to our operations here as we currently have a division that produces our own CRCs (using imported HRCs as well as local HRCs purchased from Megasteel Sdn Bhd).¡±
He added ¡°This is one way for CSC Steel to avoid paying safeguard duty.¡±
Megasteel, the country¡¯s largest HRC producer, is now lobbying the government for a safeguard duty of 40% on top of the existing 15% import duties on HRCs, which local steelmakers see as a move to protect Megasteel¡¯s dominant position in the upstream segment.
The Ministry of International Trade and Industry (Miti) in February imposed five-year anti-dumping duties on imported HRCs from China and Indonesia of between 6.35% and 12.19%.
-stainless-steel-The 17th China(Guangzhou)Int''l Stainless
Steel Industry Exhibition
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