BEIJING (Reuters) – China announced today that it will impose anti-dumping duties on some stainless steel products imported from the European Union, Japan, South Korea and Indonesia.
The anti-dumping tariffs of 18.1% to 103.1% will be applied to stainless steel billets and hot-rolled stainless steel sheets of the EU companies and the three Asian nations, effective July 23, said the Chinese Ministry of Commerce.
The decision follows an anti-dumping probe in July last year after a complaint filed by Shanxi Taigang Stainless Steel (000825.SZ).
"The detective agency issued a final decree that there were dumping of the products under investigation and caused substantial damage to the industry in China," the trade ministry said in the statement.
Stainless steel billets and hot-rolled stainless steel sheets are mainly used as a raw material for the production of cold-rolled stainless steel products or used in shipyards, containers, railways, energy and other industries.
China, the world's largest producer of stainless steel, produced 26.71 million tons of stainless steel products in 2018, up 2.4% from a year ago, according to China's Stainless Steel Association.
The country imported 1.85 million tons of stainless steel products last year, an increase of 53.7% compared to 2017.
Reporting by Muyu Xu and Shivani Singh; editing by Richard Pullin
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