China Opens AD Duty Review on CRGO Imports from Japan, Korea & EU
Reuters repored that China's Ministry of Commerce has launched an anti-dumping investigation into grain oriented flat-rolled electrical steel imported from Japan, South Korea and the European Union following the expiry of tariffs in place for the last five years. Those tariffs will, however, be reinstated during the investigation which is due to be completed within a year. Japanese steelmakers including JFE Steel Corp, Nippon Steel & Sumitomo Metal will pay anti-dumping duty rates ranging from 39% to 45.7%. EU tariffs are 46.3% while for those for Korean companies are 37.3%.
The probe comes after China Baoshan Iron and Steel and unit of Beijing Shougang petitioned the ministry in May, arguing that an end to the tariffs could lead to further dumping and hurt the domestic steel sector.