Malaysia enacts tax on rolled coil from Vietnam hinh anh 1A worker at SMC Trading Investment JSC's Coil Center in HCM City's Tan Tao Industrial Zone, which produces rolled coil. (Source: VNA)

Hanoi, (VNA)
Malaysia has imposed anti-dumping taxes ranging between 3.06 percent and 23.78 percent on cold rolled coil imported from Vietnam, mainland China and the Republic of Korea.

The Vietnam Competition Authority under the Ministry of Industry and Trade recently announced that the Ministry of International Trade and Industry of Malaysia (MITI) issued the final conclusion of its anti-dumping investigations against imports of cold rolled coil imported from the countries.

Accordingly, Vietnam has been levied an anti-dumping tax between 3.06 percent and 13.68 percent from May 24, 2016. The taxes would be applicable for five years.

The sanction concludes an anti-dumping review aimed at steel products imported from the three countries that was initiated on August 27, 2015, based on a petition filed by FIW Steel Sdn. Bhd., on behalf of the domestic industry producing Pre-Painted/Painted or Colour Coated Steel Coils (PPCCSC).

Products under investigation included cold rolled coils of alloy and non-alloy steel with thickness between 0.2 mm and 2.6 mm and widths between 700 mm and 1300 mm. The products have HS codes of 7209.15 000, 7209.16 000, 7209.17 000, 7209.18 290, 7209.18 900 and 7225.50 000 (AHTN Codes: 7209.15.00, 7209.16.00, 7209.17.00, 7209.18.99, 7225.50.10 and 7225.50.90).

MITI said the imported products hurt the domestic industry in Malaysia that was producing similar products. This had been the second product exported from Vietnam to Malaysia hit by anti-dumping taxes. Vietnamese pre-painted, painted or colour coated steel coils were also slapped with a tax last October.-VNA