Stainless Steel Strip----Provisional duties levied on Chinese and South Korean steel

Stainless Steel Strip----Provisional duties levied on Chinese and South Korean steel

Taipei Times reported that the government has decided to impose provisional anti-dumping duties on some cold rolled stainless steel products from China and South Korea, after initial investigations found they were sold at less than a fair price.


The Ministry of Finance said on its Web site that provisional duties will range from 20.52% to 46.02% for a period of 4 months.


Provisional or countervailing duties are being charged because the suspected dumping practices are under ongoing investigation.


The ministry said that “The definitive duties will be adjusted pending further probes. The preliminary probes by the Ministry of Finance and the Ministry of Economic Affairs into alleged anti dumping practices by Chinese and South Korean companies found that they had a substantial impact on the local steel industry.”


The finance ministry said that it would finalize its investigation within the next 60 days and then it would send its conclusions to the economics ministry for further consideration.


The economics ministry should, within 40 days of receiving the notice from the finance ministry give its final decision and then submit the case to the Tariff Commission for a final ruling on the anti dumping duties on those imports.


In April, the economics ministry’s International Trade Commission said that the cheap imports had affected market competition in Taiwan.


At the time, the commission said that the Chinese and South Korean exporters had increased their market share from 38% in 2009 to 70.7% last year among the total imports of these products, with volume expanding to 96,925 tonne from 28,566 tonne during the period.


Based on the ministry’s statement, the government will place provisional anti dumping duties of 20.52% on Shanxi Taigang Stainless Steel Co and Tianjin TISCO & TPCO Stainless Steel Co from China and 27.26% on Pohang Iron and Steel Co of South Korea, among others.


The preliminary duties were imposed in response to a complaint filed by Taiwan’s Yieh United Steel Corp and Tang Eng Iron Works Corp.

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