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Thai steelmakers warn of job cuts as Chinese imports flood market

Thai steel industry has warned the government that thousands of workers could be laid off if it does not take any action to stem the influx of cheap Chinese imports that are expected to reach a record amount this year. The Association of Thai Hot-rolled Steel Sheet and six other bodies representing iron producers and 472 steelmakers including listed entities such as Sahaviriya Steel Industries and G Steel jointly submitted a letter last month to Prime Minister Prayuth Chan-ocha asking for help. They demanded that the government put in place measures, such as higher tariffs, to discourage the dumping of Chinese imports that have been denied access to the US market and diverted to Southeast Asia due to the prolonged Washington-Beijing trade war.

In the letter, Nava Chantanasurakon, president of the Association of Thai Hot-rolled Steel Sheet, said Sahaviriya Steel would have to lay off employees if local industry is urged to further cut production. He said that “Other steel companies, particularly small ones, are also mulling over the plan to lay off employees to cut costs if we don’t have any tighter measure to stop the imports of Chinese steel. If the government allows this situation to last longer, everything would be worsened with hundreds of workers adversely affected.”

He did not give an exact number of employees who would be laid off.
Source : NIKKEI
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