ACN 004 410 833 LTD 12 January 2016
Arrium Limited (ASX:ARI) advises that the Anti-Dumping Commission (ADC) has made Preliminary Affirmative Determinations (PADs) in respect of its investigations into the company's allegations of unfair and damaging trade from dumped Chinese Steel Reinforcing Bar and Steel Rod in Coil.
The ADC has imposed preliminary dumping securities ranging between 5.8% and 24% for Steel Reinforcing Bar, and between 9.5% and 18.4% for Steel Rod in Coil.
The ADC has also initiated an investigation into the company's allegation that Chinese Steel Reinforcing Bar dumped into Australia is in receipt of countervailable subsidies from China, leading to further damage of the Australian industry.
The above PADs and ongoing investigations are in addition to the ADC's finalisation last month, of its investigation into dumped Steel Reinforcing Bar from Korea, Singapore, Taiwan and Spain. The ADC has imposed dumping duties of between 2.8% and 14.3% for goods exported into Australia from these countries.
Arrium's Steel business has approximately 75% of the volume of its manufacturing product base now subject to anti-dumping preliminary or final determinations.
Arrium's Managing Director and CEO, Mr Andrew Roberts said: "The global oversupply of steel has led to increased dumping activity around the world, particularly from China. Our businesses are facing unfair trade in Australia from increased levels of dumped and subsidised Chinese product and it is crucial that we have an effective, efficient and internationally competitive anti-dumping system."
Ends
CONTACTS:
Steve Ashe General Manager
Investor Relations & External Affairs Tel: +612 9239 6616
Mob: +61408 164 011
Email: steve.ashe@arrium.com
Arrium Head Office: Level 40, 259 George St, Sydney NSW 2000, GPO Box 536, Sydney NSW 2001, Australia Phone: +612 9239 6666 Fax: +612 9251 3042
www.arrium.com
STEEL | ||||||
Hot-Rolled Structurals | Rod in Coil (Wire Rod for Mesh) | Rod in Coil (Wire Rod for Mesh) | Steel Reinforcing Bar | Steel Reinforcing Bar (dumping) | Steel Reinforcing Bar (subsidisation) | |
Export countries | Korea, Taiwan, Thailand, Japan | Indonesia, Taiwan, Turkey | China | Korea, Malaysia, Singapore, Spain, Thailand, Turkey, Taiwan | China | China |
Investigation initiated | 24 Oct 13 | 10 Apr 14 | 12 Aug 15 | 17 Oct 14 | 1 Jul 15 | 23 Dec 15 |
Preliminary measures (securities) | Up to ~20% (Mar 14) | Up to ~10% (Mar 15) | ~9 - 18% (Dec 15) | Up to ~25% (Mar 15) | ~6 - 24% (Dec 15) | |
Final measures | Up to ~18% (imposed Nov 14 revised Aug 15 following appeal) | Taiwan & Indonesia (excl. Ispat) 2.7-10.1% (imposed Jun 15) | Korea, Singapore, Spain & Taiwan (excl. Power Steel) 2.8 - 14.3% (imposed Nov 15) | |||
% Manufacturing product base | ~15% | ~15% | ~35% | |||
STEEL | MINING CONSUMABLES | |||
Hollow Structural Sections | Hollow Structural Sections (anti-circumvention inquiry) | Hollow Structural Sections | Grinding Balls (dumping and subsidisation) | |
Export countries | Thailand | China, Korea, Malaysia | India & United Arab Emirates | China |
Investigation initiated | 21 Jul 14 | 11 May 15 | 22 Dec 15 | 17 Nov 15 |
Preliminary measures (securities) | ~12% to 31% (Mar 15) | |||
Final measures | 5.7 - 29.7% (Aug 15) | |||
% Manufacturing product base | >95% ATM | |||
Arrium Limited issued this content on 2016-01-12 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-12 20:43:19 UTC
