China's Ministry of Commerce (MOFCOM) announced Friday it has decided to implement temporary anti-dumping measures in the form of a margin on stainless steel billet and hot-rolled stainless steel plate from the EU, Japan, Korea, and Indonesia.
Starting from March 23, the importers shall provide the corresponding margin to China Customs based on the margin ratio for each company determined by the preliminary ruling when importing the products under investigation, said the MOFCOM statement.
MOFCOM carried out the anti-dumping investigation on July 23, 2018, of which the preliminary ruling found that the dumped steel products have caused substantial damage to the Chinese industry.
The price of dumped products has decreased overall since 2014 with an 18.31 percent decline in first three months of 2018 compared to the previous year, causing a negative impact on the prices of similar products in the domestic industry, according to the investigation.
