The Federation of Thai Industries (FTI) is calling on die government to speed up new measures to protect local steel makers after seeing Chinese steel dumping become a serious problem. The reaction came after China started its new tax rebate structure for up to 397 exports, including 85 steel items such as cold-rolled iron plate, colour-coated steel, steel pipe, nails and iron scaffold. China’s new tax rebate for steel exports has increased from 0% to 9% and 9% to 13%, depending on the steel products. The new structure has been effective since September 15.
Wikrom Vajragupta, chairman of FTIs iron and steel industry club, said “These measures are leading to unfair export conditions and encouraging Chinese steel traders to increase their shipment volume to other countries to enjoy the tax rebates. Many of those steel products are dumped in Thailand and local steel makers are concerned about this issue because it is destroying the country’s supply chain.”
The club is teaming up with the Iron and Steel Institute of Thailand as both parties agree the government should accelerate the country’s anti-dumping measures to protect the local steel industry.
Source : BANGKOK POST
Yaang Pipe Industry Co., Limited (www.yaang.com)