Russia will start to impose anti-dumping duties (AD duties) on imported nickel-containing steels from China, South Korea, Brazil and South Africa, Russian Industry and Trade Ministry (RITM) announced on its website on June 22.

The country is the second, after the US, to levy AD duties on Chinese steels. The proposed tariffs will last five years and it has not been defined when the new measure will be implemented.

Shanxi Taigang Stainless Steel Co., biggest stainless steel producer on Chinese mainland, will be demanded a 29.9-percent AD duty, while Yeun Chyang Industrial Co., a Taiwanese steel producer, 39.1 percent.

Officials from the firm (Taigang) said the steels are exported almost at cost price and it may reduce steel production if the duty is levied.

Meanwhile, South Korean steel producers will have to pay a tariff of 62.8 percent, with exception of Pohang Iron and Steel Co. Ltd. Brazilian steel importers will have to pay 21.1 percent, and South African 33.3 percent.

The ministry said in a report that nickel-containing rolled steel from these countries were being sold at very low prices in the country from 2006 to 2008. According to RITM, the steels it (Russia) imported from the above-mentioned countries increased to 28,800 tons, accounting for 71.6 percent of the total amount of imports from 2004 to 2007.

Chinese nickel-containing stainless steels exported to Russia increased 335.6 percent from 2006 to 2008. In 2009, Russia imported 24,477 tons of stainless steels from China, 41.5 percent of the total import.

[14:34 June 23 2010]

Source: business.globaltimes.cn