BY EL FITCHETT
One of Newcastle's oldest steel producers, Molycop could cease steel production in Newcastle, if Australia's Anti-Dumping Commission doesn't increase tariffs on Chinese steel imports.
The Molycop Group have been producing steel at their Waratah site for over 103 years since 1917.
The Australian reports Molycop is instead considering importing the steel from China, if the tariffs aren't raised.
The move could result in the loss of 300 jobs across the company.
The national Anti-Dumping Commission is currently investigating the case put to it by Molycop, which calls for tariffs on its Chinese competitors to be raised and extended for another five years.
A decision in the case would require approval from Australia's new Industry, Innovation and Science Minister Christian Porter, in the coming months.
The Anti-Dumping Commission will provide its recommendation to the Minister in a final report on the matter by July 2, 2021.
Image Credit: Gabes Cleaning
