South Africa has announced a safeguard investigation into increased imports of Chinese nuts, bolts and screws which pose a threat to local producers, according to a notice in the Government Gazette.
In the application submitted to the International Trade Administration Commission of South Africa (Itac) by the South African Iron and Steel Institute (SAISI), a sharp decline in sales, market share, gross profit and net profit were reported during the period between 1 July 2014 to 30 June 2018.
In a show of protectionist intent, Itac has considered evidence from T&I Chalmers Engineering which produces more than 70% of the nuts, bolts and screws in SA.
The commission will decide whether a safeguard is needed.
Stainless steel fasteners will not be affected.
