5/23/2012 1:51:00 AM
HEADLINES
South Africa Slaps Hefty Duties On Chinese Fastener Imports
South Africa slapped a hefty antidumping duty on Chinese screw imports, the Business Day reports.The antidumping measures reportedly are seen as an extension of existing antidumping measures against Chinese manufacturers of nuts and bolts.
“The International Trade Administration Commission of SA (Itac) completed its preliminary investigation into the import of fully threaded screws with hexagonal heads, excluding stainless steel screws from China, and introduced an antidumping duty of 104.5% to protect the industry in the interim,” the Business Day reports.
The application against Chinese imports was filed by the South African Fasteners Manufacturers’ Association, which represents 80% of the production volumes in the Southern African Customs Union.
Set screws are critical for mining, construction and agricultural. South Africa imports about 500 tons a month, equivalent to the monthly production of a local factory.
In July 2011 SAFMA submitted evidence showing price undercutting, depression and suppression, as well as a decline in capacity utilization, a decline in output, higher inventory levels, a decline in sales volumes and profits.
SAFMA chairman Rob Pietersma told the Business Standard that the latest measures were an extension of antidumping measures against Chinese manufacturers of nuts and bolts that had been in force since 1999. The additional duty amounted to 55% on bolts and 122% on nuts.
Canada and the European Union have duties in place against Chinese screws, nuts and bolts, and the US is considering introducing them. ©2012 GlobalFastenerNews.com
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