By Commerce Reporter
KARACHI: National Tariff Commission (NTC) has announced a definitive anti-dumping duty (ADD) of 19.15% on import of Deformed Concrete Reinforcing Steel Bars (re-bars) from China. The ADD is in addition to the 30% already in-place regulatory duty on import of re-bars from the neighboring country, thus taking total duties to 49.15%. The commission has imposed the said duty after a year-long investigation at the behest of applications lodged by Amreli Steels Limited (ASTL), Agha Steel Industries Limited and Abbas Engineering Limited on behalf of the domestic steel industry producing re-bars. “The commission has therefore decided to impose a definitive Anti-Dumping Duty of 19.15% retroactively on C&F value on imports of re-bars originating from People’s Republic of China for a period of five years effective up till Oct’22,” said the NTC notice. Previously an anti-dumping duty of 24.4% was also imposed on the import of raw material (CC Billets) in June on the back of applications from Amreli Steels Limited, Agha Steel Limited and AGS Metals Limited. CC Billet earlier had 24.04% ADD and 15% regulatory duty; total: 39.04%. While re-bar previously had only 30% regulatory and now a 19.15% anti-dumping duty has resulted in a total 49.15% duty. “The difference between local price of rebar and price of imported rebar currently stands at Rs24-25k per ton. The imports from China have already ‘dried up’ due to the imposition of 30% regulatory duty, declining from $51 million in FY16 to $13 million in FY17; it is unlikely for local players to take advantage of the recent anti-dumping duty by increasing prices. The duty will however give an edge to local players against the Chinese competition whose exports will further fall.