Chinese ambassador visits Ukrainian mill

Chinese ambassador visits Ukrainian mill

Yao Peisheng, Chinese ambassador to Ukraine visited Ukrainian integrated steel mill Zaporizhstal in order to discuss the possibilities of increasing import of Ukrainian steel products to China. The ambassador stated that China is willing to expand its trade volume with Ukraine. As for the anti-dumping duty that China implemented in January 2004 to remain in force for five years, the ambassador mentioned that such duties do not reflect Chinese policy but were implemented due to the fact that Zaporizhstal's lower production costs are weakening the competitive ability of Chinese producers. The delayed reply of the mill to Chinese authorities resulted in the implementation of anti-dumping duties. The duty rate for Zaporizhstal cold rolled coils was set as high as 49%. As a result of the changes in the market circumstances in the country, with a decision effective September 10, Chinese Ministry of Commerce (MOFCOM) rescinded the duties. Ambassador Yao Peisheng said that as the anti-dumping duties have now been lifted, he believes that these two countries should further develop trade relations.