Ministry of Commerce of the People’s Republic of China announced on Saturday it decided to keep antidumping duty for stainless cold rolled sheet from Japan and South Korea. Japanese interests urged to terminate the duty under the sunset review process citing the exports don’t compete against Chinese products. But China decided to keep the 17-58% of duty for Japanese products for another 5 years. Japanese makers are likely to keep certain export due to exemption for re-exports and high-valued products. China started the 17-58% of antidumping duty for stainless cold rolled sheet from Japan and 4-57% of duty for import from South Korea in 2000. After 5 years of duty, China started the review in 2005. The country levies 24% duty for Nippon Steel & Sumikin Stainless Steel, 17% for Nisshin Steel, 27% for Nippon Yakin Kogyo, 26% for Nippon Metal Industry and 58% for JFE Steel, Takasago Tekko, Nippon Kinzoku, NAS Stainless Steel Strip and others. Nisshin Steel said the decision disappoints the firm. The firm said the firm exports mainly high-valued products, which Chinese makers cannot produce, for China, don’t compete with Chinese makers and don’t harm Chinese industry. The firm is disappointed when the firm believes to contribute to sound development of Chinese stainless industry.
Japan Steel Scrap Composite Prices (Sangyo Press)
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