Sat, Apr 13, 2013 - Page 13 News List

ITC finds against some cold-rolled steel imports

By Kevin Chen  /  Staff reporter

A Ministry of Economic Affairs probe into anti-dumping charges against some cold-rolled stainless steel products from China and South Korea has found they had “a substantial impact on the local steel industry.”

The cheap imports had affected market competition, the International Trade Commission (ITC) said in a statement yesterday.

It said the results were based on a preliminary investigation and it would send its conclusions to the Ministry of Finance for review.

The finance ministry should — within 70 days of receiving the ITC notice — submit the case to the Tariff Commission to determine whether to impose a countervailing duty or antidumping duty.

The complaint was filed by Yieh United Steel Corp (燁聯) and Tang Eng Iron Works Corp (唐榮).

Based on the ITC’s investigation, the Chinese and South Korean imports had increased their market share from 38 percent in 2009 to 70.7 percent last year among the total imports of these products, with volume expanding to 96,925 tonnes from 28,566 tonnes during the period.

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