FX.co ★ Japan Probes Cheap Steel Imports from China, Taiwan

Japan has initiated an anti-dumping investigation into nickel-based stainless cold-rolled steel sheets and strips originating from China and Taiwan, as reported by the trade and finance ministries on Tuesday. This move is in response to a petition filed by Nippon Steel along with other domestic producers on May 12, prompted by declining domestic demand compelling them to reduce prices due to an influx of cheaper imports. The investigation, which is anticipated to conclude within one year, will assess whether anti-dumping duties need to be applied. According to the petition, these imports are priced 20–50% lower than Chinese domestic levels and 3–20% beneath Taiwanese prices. This inquiry emerges amidst worldwide apprehensions regarding Chinese steel overcapacity and state-subsidized exports that have unsettled global markets. While numerous countries have taken anti-dumping measures against China, Japan has yet to do so. Meanwhile, Taiwan's Ministry of Economic Affairs has stated it will support the affected companies in safeguarding their export interests.