S'pore restricts KL steel

S'pore restricts KL steel

SINGAPORE (AFP): Singapore announced yesterday that it will impose anti-dumping duties on reinforced steel bars from a Malaysian company following complaints from a domestic manufacturer.

"There exists a prima facie case of dumping of reinforcement steel bars which is causing injury to the domestic industry," a statement from Singapore's state-run Trade Development Board said following a probe by the Anti-Dumping Authority.

Finance Minister Richard Hu decided that from Friday, imports of reinforcement bars from Amsteel Corporation Berhad of Malaysia would be subjected to an interim anti-dumping duty of 111 ringgit (US$74) per ton, the board said.

NatSteel Ltd., the only domestic manufacturer of steel bars, had complained to Hu in early December that reinforced steel bars from Amsteel were being dumped in Singapore following which the probe was ordered.

Singapore recently took a dispute over Malaysia's import restriction on petrochemicals to the World Trade Organization (WTO).