Australia has announced an anti-dumping investigation against Asian steel makers. According to Industry Minister Christopher Pyne, Anti-Dumping Commissioner Dale Seymour will inquire the matter.
The probe will be under the newly-created Anti-Dumping Information Service (ADIS). Pyne said anti-dumping reforms will help in restraining uncooperative exporters. It will also provide support to Australian businesses.
The findings of the report will come in April. The government has also invited feedback from Australian industry groups and manufacturers, reports Straits Times.
According to the minister, trading practices such as systemic dumping, circumvention and subsidies have been hurting Australian businesses. “When they occur, Australian law provides for remedies consistent with World Trade Organization agreements.”
Quoting Pyne, Chinese news agency Xinhua said dumping and circumvention behaviour in Asian steel markets will be probed. This will identify the existing dumping duties across all steel and aluminium products. The panel’s recommendations will be used for framing new measures to combat such activities.
“In recent times I have expressed my ongoing concern about the negative impact Asian steel and aluminium markets are having on Australian manufacturers,” Pyne said.
Meanwhile, many Asian steelmakers are feeling victimized by the Turnbull government’s decision on the anti-dumping inquiry. They feel the anti-dumping probe has been well timed. It comes amidst the struggle of local steel producers such as Arrium and Bluescope, These Aussie producers are battling the competition from cheap imports. Many political parties also urged the government to prop up the domestic steel industry.
Dan Moulis, the lawyer representing Asian steelmakers said the real problem is global overcapacity. It is also linked with the global down turn that has hit many user industries. Analysts noted that Australia’s anti-dumping probe will offer some help for Arrium and Bluescope. This is despite the fact that many of their products are already getting anti-dumping protection. But it will spurt the cost of steel. It can pinch the fabrication and construction sectors. A similar decision by the European Commission has already angered Beijing, reports The Australian Financial Review.