Australia-based mining and materials company Arrium Limited has announced that Australia's Antidumping Commission (ADC) has made preliminary affirmative determinations in respect of its investigations into Arrium’s allegations of unfair and damaging trade from dumped Chinese steel reinforcing bar and steel rod in coil. The commission has imposed preliminary dumping securities ranging between 5.8 percent and 24 percent for steel reinforcing bar, and between 9.5 percent and 18.4 percent for steel rod in coil.
The commission has also initiated an investigation into Arrium’s allegation that Chinese reinforcing bar dumped into Australia is in receipt of countervailable subsidies from China, leading to further damage of the Australian industry. In addition, in December, the commission has also imposed antidumping duties of between 2.8 percent and 14.3 percent on reinforcing bar imports from South Korea, Singapore, Taiwan and Spain.
The company stated that the global oversupply of steel has led to increased dumping activity around the world, particularly from China. The steel sector in Australia is facing unfair trade from increased levels of dumped and subsidized Chinese products. Therefore, Arrium pointed out that to have an effective, efficient and internationally competitive antidumping system is crucial for the country.