By: Gia Costella22nd June 2012TEXT SIZEText Smaller Disabled Text Bigger The future of the fasteners industry depends heavily on the recent provisional antidumping duties being fully implemented, South African Fasteners Manufacturers Association Safma chairperson Rob Pietersma tells Engineering News.Last month, the International Trade Administration Commission of South Africa Itac imposed a hefty antidumping duty of 104.5% on the importation of fully threaded set screws with hexagonal heads, excluding stainless steel screws from China.This followed an investigation by Itac, which found that these imported screws had caused local manufacturers to lose business.In July last year, Safma submitted evidence of dumping to Itac. This showed undercutting, depression, and suppression of prices by China, resulting in a decline in capacity use, output and profit for local manufacturers and an increase in inventory levels.(…)
via Industry’s future dependent on full implementation of antidumping duties.