As per the latest updates by Pakistan’s National Tariff Commission (NTC) they have imposed definite anti dumping duty specifically on imports of Chinese billets which is effective from 22nd June.
The duty has been imposed on concast billets (CC) at 24.04% and it will applicable for the period of 5 years.
This definite anti dumping duty is imposed on written application submitted to NTC on 23rd Aug’15 by Karachi based M/s Amreli Steels Ltd, M/S Agha Steel Industries Ltd and M/S ASG Metals Ltd. Karachi who are major producers of CC billet.
Earlier, Regulatory Duty (RD) of 20% was charged on Imported Chinese Billet.
Industry participants believe that, with the imposed anti dumping duty, domestic steel prices and production of billet to surge further. This will likely to increase the scrap consumption making the scrap imports viable. On an average the country imports about 3.0 MnT scrap annually, although there is no official data available with us.
Notification for Anti Dumping Duty
Currently domestic billet prices in Pakistan hovering at Rs 64,000-68,000/MT (USD 610-650) including VAT & ex-works basis.
An official from the leading manufacturer, Amreli Steels stated ‘’The duty imposed by the government defiantly improve domestic demand & production as well.”
This is the 3rd time when the Pakistan has imposed anti-dumping duty on different Chinese steel products in the couple of years.
In Feb 2017, NTC has already imposed the anti-dumping duty (up to 40%) on imports of galvanized steel coils and sheets from China and a preliminary dumping margin of 53% on imports of Chinese rebars on 23rd May.
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