A probe by the Ministry of Economic Affairs’ International Trade Commission into alleged anti-dumping activity involving cold-rolled stainless steel products from China and South Korea has found that damage to the local industry “may continue or reoccur due to the suspension of anti-dumping duties,” the commission said in a statement on Friday.
The probe found that with duties ranging from 26.53 percent to 38.11 percent on such products from 2013 to last year, the volume of cheap imports was lower, while the market share of locally made cold-rolled stainless steel products was slightly higher, the commission said.
“However, due to shrinking domestic demand and large fluctuations in nickel prices in recent years, domestic shipments have not grown and local companies reported losses sometimes,” the commission said. “The overall industry is still in an unstable state of operation.”
The investigation came after the five-year duties on selected cold-rolled stainless steel products, including steel coils and steel plates, from China and South Korea ended last year.
Yieh United Steel Corp (燁聯鋼鐵) and Tang Eng Iron Works Corp (唐榮鐵工廠) lobbied the Ministry of Finance to continue the duties, which would apply retroactively to Aug. 15 last year if it concludes that cheap imports have affected competition in Taiwan.
“At present, there is a serious glut in China and South Korea,” the commission said.
“They are still developing foreign markets and have not given up the export markets, despite the threat of remedy measures,” it said.
The commission warned that any suspension of anti-dumping duties on Chinese and South Korean products would likely see firms in the two resume dumping in Taiwan amid the US-China trade dispute, which has seen restrictions placed on steel trade.
The commission said it would send the results of its probe to the finance ministry for further consideration.
The finance ministry should — within 70 days of receiving the notice — submit the case to the Tariff Commission to determine whether anti-dumping duties should be reimposed.
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