Deputy Prime Minister and Commerce Minister Jurin Laksanawisit recently chaired a meeting of the anti-dumping and countervailing committee which approved extending the penalties because the probe showed that dumping continues unabated.
Thailand has imposed anti-dumping tariffs ranging from 4.22 percent to 20.11 percent of cost, insurance and freight (CIF) prices since 2014. The penalty period expired in February 2019 but was extended to February 2020. The latest approval will become effective after February's expiry date.
In 2018, the country's total import volume of cold-reduced carbon steel totalled 1.053 million tonnes (both coiled and uncoiled), a surge from over 892,500 tonnes in the previous year.
Last year, it imported a combined 20,835 tonnes of cold-reduced carbon steel in coils and not in coils from the three markets, including 7,575 tonnes from China, 3,107 tonnes from Vietnam, and 10,152 tonnes from Taiwan.
Thailand's domestic consumption for steel products is estimated at 19.3 million tonnes a year, of which 12 million tonnes is imported.
Recently, four steel associations called on the government to help promote the use of locally made steel products in infrastructure development.