China to extend anti-dumping duties on steel product from Japan, South Korea, and EU

China will lengthen anti-dumping duties on grain oriented flat-rolled electrical metal imported from Japan, South Korea, and the European Union, the nation’s ministry of commerce mentioned on Friday.

The duties shall be prolonged for 5 years starting from July 23, it mentioned in a press release.

The anti-dumping obligation charges are set at 39% to 45.7% for Japanese corporations together with JFE Metal Corp and Nippon Metal Corp, 37.3% for Korean corporations and 46.3% for EU corporations.

China, the world’s prime metal producer launched an anti-dumping investigation in June final yr into grain oriented flat-rolled electrical metal from Japan, South Korea and the EU following the expiry of tariffs in place for the previous 5 years.

The tariffs had been reinstated through the year-long investigation.

The transfer adopted a petition by steelmakers China Baoshan Iron and Metal and a unit of Beijing Shougang which argued that ending the tariffs may result in additional dumping, hurting the home metal sector.

Oriented electrical metal or oriented silicon metal is utilized in transformers and is costlier than carbon metal.
Supply: Reuters (Reporting by Emily Chow in Kuala Lumpur; Enhancing by Richard Pullin)