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China slaps antidumping duties on stainless steel from EU, Indonesia, Japan, Korea

Singapore — China has imposed antidumping duties on imports of stainless steel billet and hot-rolled stainless steel plate from the European Union, Japan, South Korea and Indonesia for five years, the ministry of commerce said Monday.

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The tariffs, ranging from 18.1% to 103.1%, come after China had imposed preliminary antidumping measures on March 22, 2019.

After its investigations, the ministry said it found the imported steel products were dumped and "the domestic industry was substantially damaged". The tariffs are effective July 23, 2019.

Under the ministry's ruling, the affected entities comprise EU company 43.0%, Japan's Nippon Yakin Kogyo Co. Ltd. 18.1%, other Japanese companies 29.0%, South Korean company, Posco 23.1%, other South Korean companies 103.1% and Indonesian companies 20.2%.

--Clement Choo,

--Edited by Nurul Darni,