Malaysia Restores Import Tariff on Threaded Steel and Wire Rods

Recently the Malaysian government has made a final call to restore import tariff at 5% on carbon steel and wire rods because of concerns that the domestic steel market is weak. Steel product codes involved are 7213.10000, 7213.20000, 7213.91000, 7213.99000, 7214.10210, 7214.10290, 7214.10910, 7214.20210, 7214.20290, 7214.20910, 7214.30100, 7214.30900, 7214.91200, 7214.99210, 7214.99290, and7214.99910.

Import tariff on threaded steel and wire rods were allegedly canceled in January of 2014. The domestic steel price at that time was higher.