The ASI has welcomed Federal Industry, Innovation and Science Minister, Christopher Pyne’s stated support to continue the Australia Government’s antidumping reforms toward fairer trade treatment.

Minister Pyne has indicated that he will look to support recommendations due next month from the Anti-Dumping Commission on stricter penalties imposed for foreign steel being sold in Australia at a lower price than they charge in their countries of origin.

Australian Steel Institute (ASI) Chief Executive, Tony Dixon said that as a global glut in steel currently floods international markets, it is clear that some strategic measures need to be established to re-balance the books skewed by the dumping of artificially cheap product here.

“The support of the responsible Minister will help assure that Australia is not alone in dealing with the issue on which most other advanced economies around the world are mounting similar measures to combat,” he said.

“These measures will help strike a fair balance between ensuring Australia has a strong and robust system whilst honouring the country’s international trade obligations.

“With global trade actions representing the majority of international investigations, it is clear that our sector is at the frontline in facing these threats.”

He said that the Australian steel industry has been operating within a free market environment for decades with only minor or no tariffs on imported steels coming into Australia.

“It is important that Australia ensures it is operating in a free and fair market environment,” Mr Dixon said.

“The ASI supports the current free market regime for steel on contestable project inputs and only supports measures which fall within existing WTO guidelines.”