AUSTRALIA PRODUCERS WELCOME FAST-TRACK ANTI-DUMPING LAWS

The Australian Steel Association (ASA) says time is running out to keep the local steel industry afloat and welcomes government moves to fast-track anti dumping laws.

Federal Industry Minister Christopher Pyne says the dumping of cheap steel is distorting markets and making Australian steel uncompetitive.

It is believed companies are using loopholes in existing trade laws by adding minerals to their steel products.

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Mr Pyne wants the Anti-Dumping Commission to provide him with "urgent advice" on the dumping of steel from Asian countries on the Australian market.

"If somebody is breaching the rules, and the Anti-Dumping Commissioner has decided this is the case with these two types of steel products, then we're perfectly within our rights to protect Australian business," he said.