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Malaysia Launches Anti-Dumping Probe

Investigation targets iron and steel imports.

Published

1 year ago

August 21, 2024

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Malaysia has initiated an anti-dumping investigation into the import of iron and steel products from India, China, South Korea, and Taiwan. This probe is in response to complaints from local manufacturers about unfair pricing practices by exporters from these countries, which could potentially harm Malaysia’s domestic steel industry.

Key details of the anti-dumping investigation include:

Products Under Investigation: The probe focuses on specific iron and steel products, including hot-rolled coils and plates, which are widely used in various industries such as construction, automotive, and manufacturing. These products are crucial to Malaysia?s infrastructure and industrial sectors.

Allegations of Unfair Pricing: Local steel manufacturers in Malaysia have alleged that exporters from India, China, South Korea, and Taiwan are selling their products at prices lower than the market value, a practice known as dumping. This is believed to undercut local producers, leading to potential financial losses and market disruptions.

Impact on Indian Exporters: India, being one of the countries under investigation, may face significant implications if found guilty of dumping. Indian steel exporters could be subject to additional tariffs, which would make their products less competitive in the Malaysian market.

Probe Process: The investigation will involve collecting data from exporters, importers, and domestic producers to determine whether dumping has occurred and the extent of the damage to the local industry. The probe will assess factors such as production costs, market prices, and the economic impact on domestic manufacturers.

Possible Outcomes: If the investigation concludes that dumping has taken place, Malaysia could impose anti-dumping duties on the affected products. These duties are designed to protect local industries by increasing the cost of imported goods, thereby leveling the playing field for domestic producers.

Response from Exporting Countries: The countries under investigation, including India, are expected to cooperate with Malaysian authorities during the probe. They may also present their case to prove that their pricing practices are fair and in line with international trade laws.

Trade Relations: The outcome of this investigation could affect trade relations between Malaysia and the countries involved. It may lead to increased tensions or negotiations to resolve the issue and prevent the imposition of duties.

Global Steel Market: This investigation is part of a broader trend of increasing protectionism in the global steel market, as countries seek to shield their domestic industries from the impact of cheap imports. Similar probes have been launched by other nations in recent years, reflecting the competitive and often contentious nature of the global steel trade.

The launch of this anti-dumping probe by Malaysia highlights the challenges faced by global steel exporters, including those from India. The outcome could have significant implications for international trade dynamics, particularly in the iron and steel sectors.

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New Jajpur facility to double metal recovery capacity and cut emissions

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1 week ago

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Jindal Stainless Limited has announced an investment of $150 million to build and operate a new wet milling plant in Jajpur, Odisha, aimed at doubling its capacity to recover metal from industrial waste. The project is being developed in partnership with Harsco Environmental under a 15-year agreement.

The facility will enable the recovery of valuable metals from slag and other waste materials, significantly improving resource efficiency and reducing environmental impact. The initiative aligns with Jindal Stainless’s sustainability roadmap, which focuses on circular economy practices and low-carbon operations.

In financial year 2025, the company reduced its carbon footprint by about 14 per cent through key decarbonisation initiatives, including commissioning India’s first green hydrogen plant for stainless steel production and setting up the country’s largest captive solar energy plant within a single industrial campus in Odisha.

Shares of Jindal Stainless rose 1.8 per cent to Rs 789.4 per share following the announcement, extending a 5 per cent gain over the past month.

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Vedanta gets CCI Approval for Rs 17,000 MnJaiprakash buyout

Acquisition marks Vedanta’s expansion into cement, real estate, and infra

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1 week ago

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Vedanta Limited has received approval from the Competition Commission of India (CCI) to acquire Jaiprakash Associates Limited (JAL) for approximately Rs 17,000 million under the Insolvency and Bankruptcy Code (IBC) process. The move marks Vedanta’s strategic expansion beyond its core mining and metals portfolio into cement, real estate, and infrastructure sectors.

Once the flagship of the Jaypee Group, JAL has faced severe financial distress with creditors’ claims exceeding Rs 59,000 million. Vedanta emerged as the preferred bidder in a competitive auction, outbidding the Adani Group with an overall offer of Rs 17,000 million, equivalent to Rs 12,505 million in net present value terms. The payment structure involves an upfront settlement of around Rs 3,800 million, followed by annual instalments of Rs 2,500–3,000 million over five years.

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