Steel makers request dumping measures

The Federation of Thai Industries (FTI) is approaching the legislature to accelerate new measures to secure domestic steel producers in the wake of seeing Chinese steel dumping turn into a difficult issue.

The response came after China began its new expense discount structure for up to 397 exports, including 85 steel products, for example, cold-rolled iron plate, color-coated steel, steel pipe, nails and iron scaffold. China's new assessment refund for steel trades has expanded from 0% to 9% and 9% to 13%, contingent upon the steel items. The new structure has been powerful since Sept 15.

"These measures are prompting uncalled for export conditions and urging Chinese steel brokers to build their shipment volume to different nations to appreciate the expense refunds," said Wikrom Vajragupta, executive of FTI's iron and steel industry club.

"Huge numbers of those steel items are dumped in Thailand and nearby steel creators are worried about this issue since it is devastating the nation's inventory network."

The club is collaborating with the Iron and Steel Institute of Thailand as the two gatherings concur the legislature ought to quicken the nation's anti-dumping measures to secure the nearby steel industry.

Mr Wikrom said the nation could lose much esteem while steel makers would endure in the close term if the government disregards the issue and does not institute insurance measures.

The starting point of the issue for the worldwide steel showcase was the point at which the US connected import obligations on march 23 of 25% for steel items under Segment 232 of the US Trade Expansion Act of 1962.

• [Editor:janita]