Iron ore miner and steelmaker Arrium has claimed that a number of nations including South Korea, Thailand and Turkey are "dumping" cheap steel products in Australia.
The SMH reports that the company has complained that the cheap product is causing it harm and the Anti-Dumping Commission is now conducting an investigation into the claim.
Specifically Arrium alleged that steel reinforcing bar, or rebar is being dumped on the Australian market.
“Exports of dumped rebar from Korea, Malaysia, Singapore, Spain, Taiwan, Thailand and Turkey increased in each successive year, with the largest increase in 2013-14 of approximately 33 per cent,” Arrium said in an application for a dumping duty notice.
“(Arrium subsidiary) OneSteel has experienced price undercutting in the range 2.5 per cent to 7 per cent in the debar straights segment of the market in 2013-14.”
OneSteel is Australia's only producer of rebar. It makes rebar products at its palnts in Whyalla, Laverton and Newcastle. The company claims that rebar is being exported below actual product value and that this has reduced its sales and profits.
According to the Australian, Canada recently investigated dumping of concrete reinforcing bar from China, Korea, and Turkey; and imposed provisional duties on the imports.
Bob Baldwin, parliamentary secretary to Industry Minister Ian Macfarlane will determine whether to impose interim dumping duties.
Source : manmonthly.com.au