BEIJING (Sputnik) – On Monday China launched an anti-dumping probe against a number of steel products imported from the European Union, Japan, South Korea and Indonesia, the Chinese Commerce Ministry said.
The products in question are sheet and hot rolled steel, as well as stainless steel slabs.
The move was initiated after Shanxi Taigang Stainless Steel Co. Ltd., on behalf of a group of companies that collectively accounted for over 50 percent of China’s steel production from 2014-2017, requested the ministry to launch an investigation into the relevant products. The prices for these products has dropped considerably due to cheap imports, according to the ministry’s statement.
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The ministry examined the request and recognized its arguments as well as their compliance with national legislation.
As a result, the authorities have launched an anti-dumping investigation to cover the period from January 1, 2017, to December 31, 2017, and will also estimate the losses inflicted on the Chinese industry by supplies of the aforementioned products from January 1, 2014, to March 31, 2018.
The investigation will last for exactly one year – until July 23, 2019 – and, if necessary, could be extended to January 23, 2020.