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China slaps anti-dumping duties on EU, Japanese, South Korean electric steel products
06/04/2016 12:00
China, accused of flooding world markets with cheap steel, has imposed anti-dumping duties as high as 46.3 percent on electric steel products imported from Japan, South Korea and the European Union, the Ministry of Commerce said on Friday.
The overseas suppliers include JFE Steel Corp [JFEST.UL], Nippon Steel and Sumitomo Metal Corp and POSCO, the ministry said in a notice posted on its website (www.mofcom.gov.cn).
The ministry did not identify any EU supplier.
China, by far the world's biggest steel producer, still imports relatively small quantities of high-end steel products, including electric steel used in power transformers and generators.
China's huge steel sector has turned to overseas markets to try to ease a huge supply surplus, with product exports reaching a record 112 million tonnes in 2015, up 19.9 percent on the year.
Blaming a flood of cheap Chinese supplies, India's Tata Steel put its British operations up for sale this week.
According to the China Iron and Steel Association, there were 36 anti-dumping investigations into Chinese steel makers last year, double the 2014 number.
The overseas suppliers include JFE Steel Corp [JFEST.UL], Nippon Steel and Sumitomo Metal Corp and POSCO, the ministry said in a notice posted on its website (www.mofcom.gov.cn).
The ministry did not identify any EU supplier.
China, by far the world's biggest steel producer, still imports relatively small quantities of high-end steel products, including electric steel used in power transformers and generators.
China's huge steel sector has turned to overseas markets to try to ease a huge supply surplus, with product exports reaching a record 112 million tonnes in 2015, up 19.9 percent on the year.
Blaming a flood of cheap Chinese supplies, India's Tata Steel put its British operations up for sale this week.
According to the China Iron and Steel Association, there were 36 anti-dumping investigations into Chinese steel makers last year, double the 2014 number.
Source: Reuters
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