Malaysia introduces preliminary tariffs for rebar from Singapore and Turkey

The Ministry of International Trade and Industry said Malaysia has imposed temporary anti-dumping duties on reinforced concrete rebars from Singapore and Turkey.

Following a preliminary investigation that began in late April, Malaysia will impose an interim measure “in the form of temporary anti-dumping duties guaranteed by a guarantee equivalent to the amount of the dumping margin specified in the preliminary determination,” the ministry said in a statement.

The duties, which range from zero to 20.09%, apply for 120 days from September 23rd, pending final determination, which is expected by January 21st next year.

Malaysia's domestic steel needs are mainly driven by long products, which totaled 5.35 million tonnes and accounted for 57% of the country's total steel consumption in 2017, according to data from the Malaysian Federation of Metallurgy. About 67% of Malaysia's steel demand is met by local production and 33% by imports.

According to the Institute of Metallurgy of Southeast Asia, demand for long products in the country remained at 5.4 million tons per year due to a slowdown in economic growth in the country.

The interim duty comes amid market concerns that more rebar from Turkey could reach Southeast Asia to offset declines in traditional outlets. Turkish rebar exports to the United States fell to 18,500 tonnes in January-July from 264,300 tonnes in the same period in 2018 due to section 232 tariffs, data from the Turkish Statistical Institute showed.

The country is also close to reaching its EU steel import quota limit for rebar, with only 6.9% left as of September 16