Australian Steel Institute (ASI) members are reporting a contraction in future construction activity, likely to cause a significant downturn in this critical sector of the economy.  The underlying causes of this downturn are deteriorating liquidity and business confidence, both directly related to COVID-19 impacts.  International stockpiles of steel have grown significantly during the period of disruption caused by coronavirus lockdowns and have now reached 10-year highs in China.  At the same time, the Chinese Government has increased export incentives by raising the tax rebate available to exporters.  This combination of conditions mean that the Australian steel industry is particularly vulnerable to injury caused by dumped steel, and therefore the ASI recommends a range of measures to prevent this from occurring.  These measures include increasing resourcing available to the Anti-dumping Commission, adoption of safeguards investigations, and targeted legislative reform.  The ASI further recommends immediate implementation of measures designed to strengthen the administration of the anti-dumping system. Read more