Mycron Steel Bhd's subsidiary, Mycron Steel CRC Sdn Bhd, has been granted leave by the High Court to initiate a judicial review, challenging decisions made by the Government regarding the removal of antidumping duties on both alloy and non-alloy steel in imported cold-rolled coils.

In a stock exchange announcement today, Mycron revealed that the High Court granted leave on November 29, 2023, to commence the judicial review and to stay proceedings against these decisions.

This allows the continuation of antidumping duties until a final determination is reached.

Mycron Steel CRC lodged the judicial review application on July 25, 2023, expressing dissatisfaction with the removal of antidumping duties.

Preceding this application, events transpired as follows: prior to December 28, 2022, POSCO Vietnam Co Ltd submitted a petition requesting an administrative review of its antidumping duties, citing substantial changes in its dumping margin.

Upon notification of the administrative review, Mycron Steel CRC conveyed its intent to actively participate in the investigation.

However, on June 26, 2023, MITI, The Finance Minister, and the Government made a decision that eliminated the previously imposed anti-dumping duties on exports from Korea and Vietnam.

In response to perceived grievances arising from this administrative review, Mycron Steel CRC filed an application for leave to commence a judicial review and a stay of proceedings on July 25, 2023, both of which were subsequently granted.