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Saturday 10 December 2016

China imposes 'anti-dumping' duties on foreign steel

Published 01/04/2016 | 15:51

Chinese officials say 'improperly priced' foreign steel has had a devastating effect on domestic producers
Chinese officials say 'improperly priced' foreign steel has had a devastating effect on domestic producers

China has imposed anti-dumping duties on "under-priced" steel from the European Union, Japan and South Korea.

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The Chinese ministry of commerce said imports of grain-oriented flat-rolled steel will be charged duties ranging from 14.5% to 46.3%.

The ministry said Chinese producers have suffered "substantial damage" due to improperly under-priced foreign steel.

For its part, Beijing faces complaints by its trading partners that Chinese steel mills are exporting at improperly low prices to clear away a backlog of excess production.

The ministry also announced it will impose anti-dumping duties of 6.1% to 17.8% on imports of acrylic fibres from Japan, South Korea and Turkey.

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