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Business Times
2 days ago
- Business
- Business Times
Japan launches anti-dumping probe into stainless steel sheets from China, Taiwan
[TOKYO] Japan has launched an anti-dumping investigation into nickel-based stainless cold-rolled steel sheets and strips imported from China and Taiwan, its trade and finance ministries said on Tuesday. The move follows a petition filed on May 12 by Nippon Steel and other domestic manufacturers, who claim they have been forced to lower prices due to weakening domestic demand as buyers have shifted to cheaper imports. The Ministry of Economy, Trade and Industry and the Ministry of Finance plan to complete the investigation within a year and will then decide whether to impose anti-dumping duties. According to the application submitted by the steelmakers, imported products were being sold in Japan at prices 20 per cent to 50 per cent lower than those in China and 3 per cent to 20 per cent lower than those in Taiwan. The Japanese steelmakers claim they have been unable to set prices that reflect rising costs, leading to a decline in operating profits and other damages. Excess production and exports by Chinese steelmakers have become an international concern. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Japan is among a number of countries that have criticised Chinese companies for receiving government subsidies to produce excess steel and then exporting it at cheap prices, worsening global market conditions. While other countries have imposed anti-dumping measures or similar actions against China, Japan has yet to do so. Tadashi Imai, chairman of the Japan Iron and Steel Federation and also president of Nippon Steel, has repeatedly warned the global rise in protectionism could leave Japan vulnerable to inexpensive steel imports, hurting domestic production. Taiwan's economy ministry, in a statement sent to Reuters, said when it came to such cases it would help impacted companies respond 'in order to protect their export interests.' China's commerce ministry did not immediately respond to a request for comment. REUTERS
New Straits Times
3 days ago
- Business
- New Straits Times
Japan launches anti-dumping probe into stainless steel sheets from China, Taiwan
TOKYO: Japan has launched an anti-dumping investigation into nickel-based stainless cold-rolled steel sheets and strips imported from China and Taiwan, its trade and finance ministries said on Tuesday. The move follows a petition filed on May 12 by Nippon Steel and other domestic manufacturers, who claim they have been forced to lower prices due to weakening domestic demand, as buyers have shifted to cheaper imports. The Ministry of Economy, Trade and Industry and the Ministry of Finance plan to complete the investigation within a year, after which they will decide whether to impose anti-dumping duties. According to the application submitted by the steelmakers, imported products were being sold in Japan at prices 20 to 50 per cent lower than those in China and three to 20 per cent lower than those in Taiwan. The Japanese steelmakers claim that they have been unable to set prices that reflect rising costs, leading to a decline in operating profits and other damages. Excess production and exports by Chinese steelmakers have become an international concern. Japan is among a number of countries that have criticised Chinese companies for receiving government subsidies to produce excess steel and then exporting it at cheap prices, worsening global market conditions. While other countries have imposed anti-dumping measures or similar actions against China, Japan has yet to do so. Tadashi Imai — chairman of the Japan Iron and Steel Federation and also president of Nippon Steel — has repeatedly warned that the global rise in protectionism could leave Japan vulnerable to inexpensive steel imports, hurting domestic production.
Straits Times
3 days ago
- Business
- Straits Times
Japan launches anti-dumping probe into stainless steel sheets from China, Taiwan
Find out what's new on ST website and app. Japanese steelmakers say that they have been unable to set prices that reflect rising costs. TOKYO - Japan has launched an anti-dumping investigation into nickel-based stainless cold-rolled steel sheets and strips imported from China and Taiwan, its trade and finance ministries said on July 22. The move follows a petition filed on May 12 by Nippon Steel and other domestic manufacturers, who claim they have been forced to lower prices due to weakening domestic demand, as buyers have shifted to cheaper imports. The Ministry of Economy, Trade and Industry and the Ministry of Finance plan to complete the investigation within a year and will then decide whether to impose anti-dumping duties. According to the application submitted by the steelmakers, imported products were being sold in Japan at prices 20 per cent to 50 per cent lower than those in China and 3 per cent to 20 per cent lower than those in Taiwan. The Japanese steelmakers claim that they have been unable to set prices that reflect rising costs, leading to a decline in operating profits and other damages. Excess production and exports by Chinese steelmakers have become an international concern. Japan is among a number of countries that have criticised Chinese companies for receiving government subsidies to produce excess steel and then exporting it at cheap prices, worsening global market conditions. Top stories Swipe. Select. Stay informed. Singapore Singaporeans aged 21 to 59 can claim $600 SG60 vouchers from July 22 Singapore Miscalculation of MOH subsidies and grants led to $7m in overpayments, $2m in shortfalls Singapore Singaporeans continue to hold world's most powerful passport Asia Indonesia on high alert as dry weather fans forest, peatland fires in Sumatra Singapore 2 charged over alleged role in posting bail for man who later absconded Singapore Teen charged after allegedly selling vaporisers, advertising e-cigarettes on WhatsApp Singapore 2,500 turtles seized in India and sent back to S'pore, put down humanely after salmonella detected Singapore Ports and planes: The 2 Singapore firms helping to keep the world moving While other countries have imposed anti-dumping measures or similar actions against China, Japan has yet to do so. Chairman of the Japan Iron and Steel Federation Tadashi Imai, who is also president of Nippon Steel, has repeatedly warned that the global rise in protectionism could leave Japan vulnerable to inexpensive steel imports, hurting domestic production. REUTERS
Yahoo
3 days ago
- Business
- Yahoo
Japan launches anti-dumping probe into stainless steel sheets from China, Taiwan
TOKYO (Reuters) -Japan has launched an anti-dumping investigation into nickel-based stainless cold-rolled steel sheets and strips imported from China and Taiwan, its trade and finance ministries said on Tuesday. The move follows a petition filed on May 12 by Nippon Steel and other domestic manufacturers, who claim they have been forced to lower prices due to weakening domestic demand, as buyers have shifted to cheaper imports. The Ministry of Economy, Trade and Industry and the Ministry of Finance plan to complete the investigation within a year and will then decide whether to impose anti-dumping duties. According to the application submitted by the steelmakers, imported products were being sold in Japan at prices 20% to 50% lower than those in China and 3% to 20% lower than those in Taiwan. The Japanese steelmakers claim that they have been unable to set prices that reflect rising costs, leading to a decline in operating profits and other damages. Excess production and exports by Chinese steelmakers have become an international concern. Japan is among a number of countries that have criticised Chinese companies for receiving government subsidies to produce excess steel and then exporting it at cheap prices, worsening global market conditions. While other countries have imposed anti-dumping measures or similar actions against China, Japan has yet to do so. Tadashi Imai - chairman of the Japan Iron and Steel Federation, and also president of Nippon Steel - has repeatedly warned that the global rise in protectionism could leave Japan vulnerable to inexpensive steel imports, hurting domestic production.
Reuters
3 days ago
- Business
- Reuters
Japan launches anti-dumping probe into stainless steel sheets from China, Taiwan
TOKYO, July 22 (Reuters) - Japan has launched an anti-dumping investigation into nickel-based stainless cold-rolled steel sheets and strips imported from China and Taiwan, its trade and finance ministries said on Tuesday. The move follows a petition filed on May 12 by Nippon Steel (5401.T), opens new tab and other domestic manufacturers, who claim they have been forced to lower prices due to weakening domestic demand, as buyers have shifted to cheaper imports. The Ministry of Economy, Trade and Industry and the Ministry of Finance plan to complete the investigation within a year and will then decide whether to impose anti-dumping duties. According to the application submitted by the steelmakers, imported products were being sold in Japan at prices 20% to 50% lower than those in China and 3% to 20% lower than those in Taiwan. The Japanese steelmakers claim that they have been unable to set prices that reflect rising costs, leading to a decline in operating profits and other damages. Excess production and exports by Chinese steelmakers have become an international concern. Japan is among a number of countries that have criticised Chinese companies for receiving government subsidies to produce excess steel and then exporting it at cheap prices, worsening global market conditions. While other countries have imposed anti-dumping measures or similar actions against China, Japan has yet to do so. Tadashi Imai - chairman of the Japan Iron and Steel Federation, and also president of Nippon Steel - has repeatedly warned that the global rise in protectionism could leave Japan vulnerable to inexpensive steel imports, hurting domestic production.
