New Securities Imposed on Steel Imports


New Securities Imposed on Steel Imports

By way of notice in The Australian newspaper today, the Australian Customs and Border Protection Service (“Customs”) has advised of the imposition of securities on such steel products.  Securities do not require the payment of additional duty but represent the promise from importers to pay such additional duties if it is finally determined that such duty is properly payable on imports.  They are imposed if Customs believe that the imports represent an immediate threat to the Australian industry while the investigation continues.

The securities are on account of alleged dumping of those products.  The levels differ as set out in the notice depending on the identity of the exporter.  These range from a finding of no dumping for some exporters to significant levels on galvanised steel from the People’s Republic of China, Korea and Taiwan.  The highest level applies to exports of galvanised steel from the PRC at 55.3% for selected “non-cooperating exporters”.  There is a long history of non-cooperating exporters receiving high margins as Customs can resort to its own calculations of export price and normal value rather than using the exporter’s figures.  As a resul,t it continues to be mystifying while any exporters (including large-scale exporters) do not engage and co-operate during an investigation.

Details of the decision are to be found in the associated Preliminary Affirmative Determination number 190.

We await a decision as to whether securities are to be imposed on these products on account of alleged subsidies.

As always, we will be pleased to assist but readers should be aware that the securities will apply immediately to imports.