China announced on Monday that it will impose anti-dumping duties on some stainless steel products imported from the European Union, Japan, South Korea and Indonesia, Reuters reports.
Anti-dumping tariffs of 18.1 percent to 103.1 percent will be applied to stainless steel billets and hot-rolled stainless steel plates from companies in the EU and the three Asian nations, the commerce ministry was quoted as saying in a statement.
The duties will take effect on Tuesday.
The decision follows an anti-dumping probe in July last year after a complaint filed by state-owned Shanxi Taigang Stainless Steel.
“The investigation agency has made a final decree that there was dumping of the investigated products and it has caused substantive damage to the industry in China,” the commerce ministry said.
Stainless steel billets and hot-rolled stainless steel plates are mainly used as raw material to make cold-rolled stainless steel products or used in shipbuilding, containers, rail, power and other industries.
China imported 1.85 million tons of stainless steel products last year, up 53.7 percent from 2017, according to the report.
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