Japan Launches Anti-Dumping Probe
into Korean and Chinese Steel Imports
Following Reports from Four Companies Including Japan Steel and Kobe Steel
Japan has launched an anti-dumping investigation into imported steel products from South Korea and China, according to reports by Kyodo News and Bloomberg on August 13.
The Ministry of Finance and the Ministry of Economy, Trade and Industry announced that they decided to initiate the investigation following damage reports filed in April by four companies, including Japan Steel and Kobe Steel.
The products under investigation are hot-dip galvanized steel sheets and strips, which are used for applications such as guardrails and housing construction materials. In principle, the investigation is to be concluded within one year.
Kyodo News reported, "Excess steel production by Chinese companies and others has become an international issue," and added, "In July, the Japanese government also began an anti-dumping investigation into nickel-based stainless steel sheets from China and Taiwan."
China, the world's largest steel producer, has increased steel exports this year as domestic demand weakened due to a slump in the real estate market. Bloomberg noted that the influx of low-priced Chinese steel products into overseas markets has contributed to a decline in market prices.
Meanwhile, the global steel industry has faced greater difficulties as the U.S. government imposed product-specific tariffs of up to 50% in an effort to protect its domestic steel industry. In June, the Donald Trump administration doubled tariffs on imported steel, including from South Korea, raising them to as much as 50%.
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