Arrium Limited
(ASX:ARI) has advised that the Anti-Dumping Commission has made preliminary affirmative determinations in relation to the company’s allegations of unfair and damaging trade from Chinese steel reinforcing bar and steel rod in coil.
The ADC has imposed preliminary dumping securities ranging between 5.8 percent and 24 percent for steel reinforcing bar, and between 9.5 percent and 18.4 percent for steel rod in coil.
The ADC is also investigating the company’s allegation that Chinese steel reinforcing bar dumped into Australia is in receipt of countervailable subsidies from China, leading to further damage of the Australian industry.
Arrium’s Managing Director and CEO, Andrew Roberts said that the global oversupply of steel has led to increased dumping around the world, causing businesses to face unfair trade in Australia.
Arrium recorded a net loss of $1.9 billion at 30 June 2015.
