BANGKOK, 6 July 2015 – The Ministry of Commerce has issued six measures to aid domestic steel business affected by influx of steel imports from China.
The Minister of Commerce Gen Chatchai Sarikulya says the measures have been adopted at today’s meeting between him and domestic steel business owners who have been affected by cheaper steel imports from China.
The meeting, aimed at finding sustainable solutions to the development of the industry, agreed to designate 5 steel products such as steel rods, structural steel, and hot rolled steel as sensitive products which require daily pricing monitoring. Other measures are efforts to negotiate with the Chinese government to stop its subsidy to the exports of steel from China to Thailand, stringent inspections by the Customs Department on all steel imports, the revision of steel quality regulations by the Thai Industrial Standards Institute, a feasibility study on the establishment of an upstream steel factory in Thailand by the Ministry of Industry, and greater promotional privileges to the establishment of steel factories in Thailand.
The Ministry will seek a chance to raise its concern over the steel influx from China that affects the domestic steel business at the ASEAN-China meeting to be held later this month.
Thailand has seen imports of 5 million tons of steel from China during the last 5 months, while the annual volume of steel imports from China is as high as 12 million tons. Moreover, the quality of some steel imports is not meeting with the required standard and causing security concern if used in the construction industry.
And in order to tighten steel quality inspections, the Thai Industrial Standards Institute will increase the required conditions from 19 to 24 subjects for the quality control purpose.