The Ministry of Business, Innovation and Employment has started two new investigations into Chinese and Malaysian steel products, the third such probe triggered by NZ Steel since it first sought an inquiry in 2016. NZ Steel is owned by Australia's BlueScope Steel.
MBIE general manager science, innovation and international Peter Crabtree this week signed off on two separate investigations: the first into allegations of Chinese subsidies on certain hollow steel products, and the second into claimed dumping of Chinese and Malaysian imports, according to notices published on the New Zealand government's Gazette yesterday.
The ministry has previously rejected NZ Steel's requests to impose duties and other measures on imported galvanised steel coils and steel reinforcing bar and coil from China and Malaysia, finding Chinese government subsidies were too small to hurt domestic producers and that exports from those Asian nations were being dumped locally.
MBIE again agreed there was enough information provided by NZ Steel in its December 6 application to warrant an investigation into the new steel product range. The ministry said there had been "significant increase" in the volume of Chinese and Malaysian imports, with some undercutting that squeezed the local producer's sales and margins.
However, MBIE said the local producer hadn't faced a "significant decline in market share" that could be put down to dumped or subsidised goods. NZ Steel didn't consider it had suffered reduced capacity or detriments to inventories, employment and wages, or provided evidence of an impact on growth or its ability to raise capital.
Continue here to the full article on Newsroom | || April 11, 2018 |||