KARACHI: The National Tariff Commission (NTC) has imposed anti-dumping duty in the range of 6.2 per cent to 17.3 per cent on flat steel products for a period of five years to protect the local industry.steel products

According to an announcement on Monday, the anti-dumping duty has been imposed on iron or non-alloy steel, rolled coils/sheets being imported and dumped from Taipei, the European Union, South Korea, and Vietnam.

The NTC initiated an anti-dumping investigation on February 25, 2021 of the abovementioned products after Aisha Steel Limited (ASL) and International Steel (ISL) lodged a complaint.

The commission made a preliminary determination in the case on August 23, 2021 and imposed a provisional anti-dumping duty ranging from 6.2 per cent to 17.3 per cent on imports of the investigated product for a period of four months.

The NTC has now made an affirmative final determination of the anti-dumping duty ranging from 6.2 per cent to 17.3 per cent for a period of five years effective from August 23, 2021. This imposition is a percentage on cost and freight (C&F) prices.

This imposition excludes CR coils/sheets that are mainly used in automotive outer skins of the four-wheeler vehicles (auto grades) and Tin Mill Black Plate (TMBP) under this review.

Analysts at Topline Securities said though, provisional duties on the same were already in place; however, final determination will clear any uncertainty over any future duty determination.

This will bode well for the flat steel manufacturers, which includes ISL and ASL, among the listed players, they added.