Beijing Times cited Mr Shan Shanghua secretary general of CISA as saying that Chinese Ministry of Commerce is organizing to launch anti dumping investigation against Russian origin hot rolled sheet.

The financial crisis contributes to the inrush of low priced steel products to China. Among others, 0.103 million tonnes Russian steel products were imported to China in Q1.

According to the introduction of Mr Xu Xiangchun consulting director of Mysteel, the main varieties of imported Russian steel products are the already over-supplied hot rolled sheet in Chinese domestic market and silicon steel sheet, which must worsen the relative domestic market.

Russian steel products gain the price competitiveness for the depreciation of SUR amid the financial turmoil. Besides, Russian steel enterprises own three advantages, which are raw materials, cheap labour power and energy sources cost.

However, Russia announced relatively earlier to impose 8% special tax on Chinese origin large calibre steel tubes yesterday. As per its government order subscribed on May 8, this order will be effective in one month and the period of validity would last to December 21st 2009.

(Sourced from.Mysteel.net)
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