The local steel industry in Pakistan is seeing another positive development as the National Tariff Commission (NTC) has notified a 19.15% definitive five-year anti-dumping duty on deformed steel bars imported from China. This is in addition to a 30% regulatory duty on imported re-bars already imposed. Now the Chinese rebar imports will have to pay high duties of total 49.15%.
In the letter it has mentioned that after a year-long investigation post the applications filed by large steel makers in country namely – Amreli Steels Limited (ASTL), Agha Steel Industries Limited and Abbas Engineering Limited, the commission has came to an conclusion to put an anti-dumping duty of 19.15% retroactively on C&F value on imports of re-bars originating from China for a period of five years as the landed cost of Chinese rebars is cheaper than the offers by the domestic manufacturers in Pakistan.
According to one of the producers in Pakistan, domestic offers for 12mm grade60 rebars in Pakistan is at PKR 80,000-82,000 MT (USD 759-778), including all taxes, while landed offers of Chinese rebars are evaluated near to PKR 75,000 MT (USD 712).
Market participants do not anticipate an immediate impact of this duty as imports had dried out from China in last few months. But certainly this will help domestic producers in long run looking at robust steel demand in the country.
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