China may lift anti-dumping duties on cold rolled steel products

China may lift anti-dumping duties on cold rolled steel products

Chinese government reportedly plans to lift anti-dumping duties on imports of cold rolled steel products. With this regulation, high raw material prices, which resulted in highest inflation rate in the country for the last seven years, are expected to decline. In line with this plan, Chinese government asked several major steel producers in the country, including Baoshan Iron & Steel Co, to justify their claim that cold rolled steel products imported from Russia, South Korea and Taiwan are sold below the domestic prices, thus causing material injury for Chinese steel industry. As previously reported by SteelOrbis, China on January 14, 2004 imposed anti-dumping tariffs on cold rolled products imported from Russia, South Korea, Taiwan, Ukraine and Kazakhstan. Now, domestic producers are required to inform the government whether they will attend the hearing that will take place on June 1, 2004. At the hearing, the government will decide whether the tariffs should be lifted or not. Please click here for the duty rates imposed on January 14, 2004.