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Thai Steel Makers Seeks Measures to Counter Chinese Dumping

Steel News - Published on Thu, 21 May 2020

Image Source: Thai Steel Makers
Bangkok Post reported that Thai Iron and Steel Industry Club under the Federation of Thai Industries is concerned cheap Chinese steel imports being dumped in the domestic market could jeopardise the local steel industry. Korakod Padungjitt, secretary-general of the club, said Thailand has become a target for Chinese steel exporters after the Covid-19 outbreak reduced domestic demand. He said “China continues to dump cheap steel throughout the world since their government opened cities for business again," he said.

FTI said data from China's Customs Department showed steel exports in March to Thailand increased 53% year-on-year.

The Chinese government implemented measures to support exports such as additional subsidies by increasing the export tax rebate from 10% to 13% in March. At the end of March, China's total inventory of steel amounted to 100 million tonnes, up from 49.3 million tonnes during the same period last year, a gain of 103%.

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Posted By : Yogender Pancholi on Thu, 21 May 2020
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