Author: Paul Ploumis03 Feb 2015 Last updated at 21:59:45 GMT

BEIJING (Scrap Monster): The Malaysian authorities have put an end to the antidumping investigation against imports of rebars from China and South Korea. The preliminary investigation concluded that the rebars were being imported at fair prices and that these imports were not hampering domestic rebar industry in the country. The finding was submitted on Jan 27th and the investigation was suspended on Jan 29th, said the country’s Federal Government Gazette.

The investigation was initiated on complaints filed by Malaysian Ann Joo Steel, after steel imports from China surged significantly higher. The company had alleged that increased rebar imports from other countries, especially China and South Korea, damaged the domestic steel producers in the country, as they were imported at fairly cheap rates. The ruling by the Malaysian authorities is disappointing, said Ann Joe Steel. On the other hand, Chinese exporters welcomed the decision.

The investigation was carried out on straight rebars HS 7214 and 7228 up to 6 metres length. According to Malaysian authorities, the Chinese and Korean import prices were within 1% of what is considered as fair price. Moreover, it failed to identify material damages being caused to domestic producers directly linked with the import of these products.

The investigation initially had its deadline fixed at January 1st, but was later extended by 30 days. The ruling was issued one day prior to expiry of the extended deadline.

Incidentally, the imports of Chinese finished steel products by Malaysia surged higher by 50.5% during the entire year 2014 to 93.78 million tonnes.