The anti-dumping duties, ranging from 18.1% to 103.1% will be effective from July 23, 2019.
On Monday, China stated, it will impose anti-dumping duties on select stainless steel products which it imports from Japan, South Korea, the EU and Indonesia.
In a statement, China’s Ministry of Commerce stated, anti-dumping tariffs ranging from 18.1% to 103.1% will be applied on stainless steel billets and hot-rolled stainless steel plates from companies in the three Asian nations and the EU, effective from July 23.
The move comes in the wake of an anti-dumping probe in July 2018, filed by state-owned Shanxi Taigang Stainless Steel.
“The investigation agency has made a final decree that there was dumping of the investigated products and it has caused substantive damage to the industry in China,” said China’s commerce ministry in a statement.
Incidentally, hot-rolled stainless steel plates and stainless steel billets are primarily used as raw material to make cold-rolled stainless steel products or are used in ship building, railways, power, container and other industries.
According to China’s Stainless Steel Association, Beijing produced 26.71 million tonnes of stainless steel products in 2018, up 2.4% from a year ago.
China imported 1.85 million tonnes of stainless steel products in 2018, up by 53.7% from a year ago.