The ASI is enlisting state and federal government support for local steel fabricators and manufacturers after research revealed they are being significantly undercut by cheap imports.
An ASI survey of steel fabricators and manufacturers in July 2024 revealed 86% had reduced profit margins because of cheap imported steel, which is being offered at between 15 and 50% lower than the cheapest local offer.
This issue is particularly impacting East Coast fabrication businesses that are reliant on the portal frame market for structural steel, but it is also having a detrimental effect on a wide range of other steel product manufacturers.
The extent of the price undercutting being reported is indicative of subsidies from the country of origin, and/or dumping being a major contributor to the problem. The use of subsidies and dumping of goods as a means to gain market share are both unfair, and illegal. This is because local businesses are not able to viably compete with international competitors that benefit from a range of subsidies.
The ASI is engaging with state and federal governments in order to bring this problem to their attention, explain the damage that is being done to strategically important local industries, and to identify what courses of action are available to provide relief to members.