SHAH ALAM (Oct 20): Amalgamated Industrial Steel Bhd (AIS) has expressed relief that that Malaysia is imposing provisional anti-dumping duties on imports of hot rolled coils (HRCs) from China, Indonesia and South Korea, saying it will help narrow its losses in the current financial year ending Dec 31, 2014 (FY14).
This could potentially allow the loss-making steel pipe maker to make a turnaround in FY15.
It was commenting on the move by the Ministry of International Trade and Industry to impose provisional anti-dumping duties on imports of hot rolled coils (HRCs) from China, Indonesia and South Korea for a maximum of 120 days starting Oct 17.
The provisional anti-dumping duties range from 3.15% to 29.37%.