China will extend anti-dumping duties between 17% to 58% for 5 years on the import of cold rolled stainless steel sheets from Japan and South Korea as per a release from China’s Commerce Ministry. The move will be effective immediately. The duties will be levied at the same levels as previously, without elaborating. The decision to extend the duties came after the Ministry submitted a proposal to the tariff regulatory commission under the State Council, the country’s cabinet. The Ministry has conducted one year’s worth of investigations on the Japan & South Korea practices to review its anti-dumping measures. Based on the investigation’s findings, the Ministry has determined that lifting the anti-dumping duty will likely lead to renewed dumping of such goods on the Chinese market and may cause damage to China’s domestic steel making industry.
