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Thai steel makers refute price gouging claim

Steel manufacturers are denying allegations that domestic steel prices have been increasing unreasonably, as claimed by housing developers.

Mr Nava Chantanasurakon deputy managing director of Sahaviriya Steel Industries said that “Hot rolled steel is on the Commerce Ministry’s price control list. Since 2013, prices have moved in tandem with the global market from THP 21.5 to THP 22.5 kilograms. The tariffs are allowed for members of the World Trade Organization.”

Fierce competition has kept prices in check, both for imported and locally made steel. But small and medium sized developers are complaining that prices of structural steel have jumped since the government impose stricter anti dumping tariffs and safeguard measures.

Developers said that under the new import tariff, the duty on hot rolled coil, sheet and plate containing alloys such as boron and chromium was raised to 33.11% from the usual import duty of zero to 5%. They threaten to use substandard steel to lower costs.

Source – Bangkok Post

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