The Ministry of Finance has launched anti-dumping investigations into steel products from China and South Korea sold on the local market, to protect the interests of Taiwanese firms.
The ministry yesterday said that the products being looked at by anti-dumping investigations are cold-rolled, flat-rolled non-oriented electrical steel products, which are used mainly in items such as motors, transformers, voltage regulators and electromagnetic switches.
The ministry said China Steel Corp (CSC, 中鋼), the nation’s biggest steelmaker, filed a petition requesting an investigation into alleged unfair trading practices by suppliers from the two countries.
Photo: AFP
There is reasonable suspicion that the imported goods in question constitute dumping and harm the local industry, the ministry said, adding that the steel imports in question have increased significantly since 2023.
The market share of those imports has increased year by year, and their prices last year started to fall below market prices, with the price gap continuing to widen, the ministry said.
Taiwanese firms were forced to lower their prices in response, but those were not enough to offset the impact of the goods in question, it said, adding that local firms were losing customers and seeing significant declines in production, capacity utilization, sales and profitability.
The finance ministry said it would also notify the Ministry of Economic Affairs of the investigation, as the latter is in charge of finding out how much harm the products have caused to the domestic industry within 40 days.
If the economic affairs ministry determines that local industry has been harmed, the finance ministry should within 70 days make a preliminary decision on whether to impose provisional anti-dumping tariffs. The preliminary decision is expected to come as early as mid-April next year.
Companies being investigated for dumping include South Korea’s POSCO Holding Inc, seven Chinese companies — such as Baoshan Iron & Steel Co (寶山鋼鐵), Wuhan Iron & Steel Corp (武漢鋼鐵) and Beijing Shougang Co (北京首鋼) — as well as several steel importers in Taiwan, the finance ministry said.
The finance ministry in March announced it would maintain anti-dumping duties of 38.11 percent and 37.65 percent on cold-rolled stainless steel from China and South Korea for five years respectively, effective until March 17, 2030.
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