China’s sour trade relationships with its major trade partners are likely to impact its steel exports in the coming days. Many countries including the US, South Korea, Chile, Colombia have either slapped duties or initiated probes into exports of steel products from China into their respective countries. Products being investigated include stainless steel plates and seamless alloy steel cylinders, steel bars, boltless steel shelves among others.
Trade Commission under the Ministry of Trade, Industry and Energy of South Korea has initiated anti-dumping investigations into flat-rolled stainless steel plates from China, Taiwan, and Indonesia. The probe has been initiated at the behest of Posco, which states the domestic industry is being hurt by such exports.
As of 2019, the South Korean flat-rolled stainless steel plate market was estimated at KRW3.5 trillion or CNY20.1bn. Domestic share in the market accounts for 46.2pc while the proportion of imported products from China, Indonesia, and Taiwan accounted for 45.6pc.
The Brazilian Foreign Trade Secretariat on Sep 8 announced its preliminary anti-dumping ruling on seamless alloy steel cylinders imported into the country from China. The period of investigation was from July 2018 to June 2019 and the damage investigation period from July 2014-June 2019.
The Chilean Import Commodity Price Distortion Investigation Committee announced on Sep 11 that it has initiated an anti-dumping investigation on imports for steel rods from China. An application to this effect was made by the Chilean company Compañía Siderúrgica Huachipato.
The country’s Ministry of Trade and Industry has initiated an anti-dumping investigation against steel profiles originating in China according to an announcement on Sep 1. The probe was launched after the companies under the manufacturing association Consorcio Metalurgico Nacional had complained about such imports harming the domestic industry.
The US Department of Commerce on Sep 1 initiated a sunset review on anti-dumping measures on boltless steel shelves imported from China. The country has also initiated anti-dumping and anti-subsidy sunset review investigation on pre-stressed concrete steel wire strands imported from China. The commission has sought comments from interested parties before Oct 1. US commerce will then submit its comments to the country’s International Trade Commission on the adequacy of responses by Nov 16.