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.
KEEPING UP: The acquisition of a cleanroom in Taiwan would enable Micron to increase production in a market where demand continues to outpace supply, a Micron official said Micron Technology Inc has signed a letter of intent to buy a fabrication site in Taiwan from Powerchip Semiconductor Manufacturing Corp (力積電) for US$1.8 billion to expand its production of memory chips. Micron would take control of the P5 site in Miaoli County’s Tongluo Township (銅鑼) and plans to ramp up DRAM production in phases after the transaction closes in the second quarter, the company said in a statement on Saturday. The acquisition includes an existing 12 inch fab cleanroom of 27,871m2 and would further position Micron to address growing global demand for memory solutions, the company said. Micron expects the transaction to
Nvidia Corp’s GB300 platform is expected to account for 70 to 80 percent of global artificial intelligence (AI) server rack shipments this year, while adoption of its next-generation Vera Rubin 200 platform is to gradually gain momentum after the third quarter of the year, TrendForce Corp (集邦科技) said. Servers based on Nvidia’s GB300 chips entered mass production last quarter and they are expected to become the mainstay models for Taiwanese server manufacturers this year, Trendforce analyst Frank Kung (龔明德) said in an interview. This year is expected to be a breakout year for AI servers based on a variety of chips, as
Global semiconductor stocks advanced yesterday, as comments by Nvidia Corp chief executive officer Jensen Huang (黃仁勳) at Davos, Switzerland, helped reinforce investor enthusiasm for artificial intelligence (AI). Samsung Electronics Co gained as much as 5 percent to an all-time high, helping drive South Korea’s benchmark KOSPI above 5,000 for the first time. That came after the Philadelphia Semiconductor Index rose more than 3 percent to a fresh record on Wednesday, with a boost from Nvidia. The gains came amid broad risk-on trade after US President Donald Trump withdrew his threat of tariffs on some European nations over backing for Greenland. Huang further
HSBC Bank Taiwan Ltd (匯豐台灣商銀) and the Taiwan High Prosecutors Office recently signed a memorandum of understanding (MOU) to enhance cooperation on the suspicious transaction analysis mechanism. This landmark agreement makes HSBC the first foreign bank in Taiwan to establish such a partnership with the High Prosecutors Office, underscoring its commitment to active anti-fraud initiatives, financial inclusion, and the “Treating Customers Fairly” principle. Through this deep public-private collaboration, both parties aim to co-create a secure financial ecosystem via early warning detection and precise fraud prevention technologies. At the signing ceremony, HSBC Taiwan CEO and head of banking Adam Chen (陳志堅)
RSS