The Ministry of Commerce (MOC) said Tuesday that it would extend anti-dumping duties on certain iron or steel fasteners imported from the European Union (EU) by another five years.
Anti-dumping duties, ranging from 6.1 percent to 26 percent, on imports of certain iron or steel fasteners from the EU were first imposed on June 29, 2010, the MOC said in a statement.
When the last five-year period ended in June, the ministry reopened the investigation following a request from domestic industry players.
If the anti-dumping measures end, dumping of fasteners from the EU may continue, damaging the domestic industry, the ministry ruled.
Thus, it has decided following the one-year investigation, the anti-dumping duties will continue for another five years starting Wednesday.
