China Extends Anti-Dumping Duties on Electric Steel Sheets from Korea, Japan, and the EU for 5 Years

[Asia Economy Reporter Hyunju Lee] China announced on the 22nd that it will extend the anti-dumping duties imposed on electrical steel sheets from Korea, Japan, and the European Union (EU) for five more years.

According to major foreign media, the Chinese Ministry of Commerce stated in a press release that starting from the 23rd, it will reimpose anti-dumping duties on Grain-Oriented Electrical Steel (GOES) products from these countries for five years. The duty rates are set at 37.3% for Korean products, 39?45.7% for Japanese products, and 46.3% for EU products, respectively.

China has been conducting a new anti-dumping investigation since July last year, immediately after the expiration of the initial five-year period following the imposition of anti-dumping duties in 2016. Baoshan Steel and Beijing Shougang in China have argued that if the duties end, dumping will worsen and harm the Chinese steel industry. Grain-oriented electrical steel, which plays a role in improving the efficiency of transformers and motors, is widely used in electric vehicles and renewable energy materials, and is considered one of the future high value-added steel materials.