China Launches Anti-Dumping Probe Against Steel Imports From EU, Japan, S Korea

© REUTERS / China DailyWorkers check steel products at a factory in Dalian, Liaoning Province, China, March 30, 2016
Workers check steel products at a factory in Dalian, Liaoning Province, China, March 30, 2016 - Sputnik International
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.

READ MORE: China Dumped Stainless Steel Product at 250% Below Market — US Commerce Dept

The ministry examined the request and recognized its arguments as well as their compliance with national legislation.

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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.

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