The Republic of South Africa has announced the implementation of significant anti-dumping tariffs on imports of structural steel from China and Thailand. This decision was made in response to identified instances of dumping that harmed domestic steel producers.
This is reported by Finway
New Tariff Rates and Duration
Under the new regulations, imports of structural steel from China will be subject to a tariff of 74.98%, while similar products from Thailand will incur a tariff of 20.32%. These rates will remain in effect for the next five years. Such measures are the result of an investigation conducted by the South African International Trade Administration Commission (ITAC), which confirmed that the imported steel was priced below market value.
Market Impact and Expectations from New Tariffs
Back in 2024, South Africa implemented temporary anti-dumping tariffs on steel imports from China and Thailand at rates of 52.81% and 9.12%, respectively. The recent decision to raise tariffs aims to protect the local steel industry, which has recently faced declining domestic demand and a significant influx of cheap imported products.
The South African steel industry, the publication notes, is struggling with weak domestic demand and an influx of cheap imports, forcing companies like ArcelorMittal South Africa to temporarily close some plants.
According to official data, steel imports account for 36% of the total steel consumption in the country, with 73% of this import coming specifically from China. The introduction of new tariffs is expected to allow local producers to strengthen their market positions, stabilize prices, and attract investments for production development and job preservation.