SMM, 23 Jul: in accordance with Article 16 of the Anti-dumping regulations of the people's Republic of China, The Ministry of Commerce of the people's Republic of China (hereinafter referred to as the Ministry of Commerce) has decided to open an anti-dumping investigation into imports of stainless steel billets and stainless steel hot-rolled plates / coils originating in the European Union, Japan, South Korea and Indonesia from 23 July 2018. This was due to the receipt by the Ministry of Commerce on 22 June 2018 of an application for anti-dumping investigation formally submitted by Shanxi Taiyuan Iron and Steel stainless Steel Co., Ltd. (hereinafter referred to as the applicant) on behalf of the domestic stainless steel billet and stainless steel hot-rolled plate / coil industry. The applicant requested an anti-dumping investigation into imports of stainless steel billets and stainless steel hot-rolled plates / coils originating in the European Union, Japan, the Republic of Korea and Indonesia.
According to customs data, Indonesian stainless steel began to be imported into China in August 2017 and peaked in February, when 173000 tons of stainless steel were imported into China. From January to March this year, China imported 618000 tons of stainless steel, an increase of 216 percent over the same period last year, of which 72 percent came from Indonesia, and almost all of the increase was contributed by Indonesia.
If China will impose high anti-dumping duties on stainless steel from Indonesia, it will undoubtedly prevent Indonesian sources from entering China and reshape the domestic stainless steel and even nickel raw material end industry. For more specific analysis, subscribe to SMM Email alert products.
Figure 1: chart of stainless Steel imports from 2017 to date and proportion of imports from Indonesia
Source: customs, SMM
Figure 2 Import and Export of stainless Steel in China from 2010 to 2017
Source: customs, SMM
Since 2010, China's annual stainless steel imports account for about 5% of China's stainless steel production, import dependence is low; on the contrary, it is more competitive in the export market, relying on China's cheap nickel pig iron raw materials to obtain the advantage of low steelmaking costs.
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