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Thailand does not extend safeguard duty on HR steel imports

Steel News - Published on Fri, 11 Jan 2019

Image Source: Reliance Foundry
Bangkok Post reported that the Thai government has ruled out extending safeguard measures on imported hot-rolled steel sheet with alloy, both in coils and not in coils, after a probe found no injury to the domestic steel industry. Deputy commerce minister Ms Chutima Bunyapraphasara, who chaired the meeting of the Trade Interests and Remedies Committee on Jan 7, said extending such measures may put the country at risk from trade retaliation. Ms Chutima said "The committee considers the extension of the safeguard measures unnecessary because the investigation showed the import volume and market share of such steel imports dropped, while the domestic sales volume and capacity utilisation increased in 2017 and 2018. The probe also found the losses of the affected companies reduced and employment increased.”

Thailand exercised the safeguard measures on imported steel for the first time from Feb 27, 2013 to Feb 26, 2016. The measures were subject to renewal from Feb 27, 2016, to Feb 26, 2019. Under the safeguard measures, imported steel is subject to a tariff of 39.1%.

Thailand has two major hot-rolled steel sheet makers - Sahaviriya Steel Industries Pic, the country’s biggest hot-rolled steel sheet producer, and G Steel Pic.

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Posted By : Joykumar Irom on Fri, 11 Jan 2019
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