The Chinese Ministry of Commerce said Monday that it will impose anti-dumping duties on some stainless steel products imported from the European Union, Japan, South Korea and Indonesia.
"The investigation agency has made a final decree that there was dumping of the investigated products and it has caused substantive damage to the industry in China," said the ministry in a statement.
Anti-dumping tariffs of 18.1 percent to 103.1 percent will be applied to stainless steel billets and hot-rolled stainless steel plates from companies in the EU and the three Asian countries.
Stainless steel billets and hot-rolled stainless steel plates are mainly used as raw material to make cold-rolled stainless steel products or used in shipbuilding, containers, rail, power and other industries.
China, the world’s largest stainless steel producer, churned out 26.71 million tonnes of stainless steel products in 2018, up 2.4 percent from a year ago, according to China’s Stainless Steel Association.
The country imported 1.85 million tonnes of stainless steel products last year, up 53.7 percent from 2017.
The tariffs will become effective on July 23, according to the statement.
(With input from Reuters)