China’s import of hot-rolled stainless steel sheet and stainless steel billets jumped by 200% in 2017.
On Monday, China’s Ministry of Commerce disclosed, it has begun an anti-dumping investigation into the import of hot-rolled stainless steel sheet and stainless steel billets from Indonesia, the European Union, South Korea and Japan.
The probe comes in the wake of a complaint by Shanxi Taigang Stainless Steel along with 4 other other mills, including Baosteel’s stainless steel division.
In 2017, China imported 703,000 tonnes of these products in 2017, up by 200% from a year earlier; 98% of these imports come from the regions that have been targeted.
The significant jump in these imports have caused a real damage to the Chinese market, reads the complaint filed by Shanxi Taigang.
Incidentally, Shanxi Taigang accounts for 25% to 35% of China’s stainless production.