Ministry of Commerce announced the original Europe, Japan, South Korea, Indonesia imported stainless steel products anti-dumping investigation preliminary domestic impact?

On March 22, 2019, the Ministry of Commerce announced No. 9 of 2019 on the preliminary anti-dumping investigation of imported stainless steel billets and stainless steel hot rolled plates / rolls originated in the European Union, Japan, South Korea and Indonesia. SMM considered that:

1) the anti-dumping investigation of stainless steel will not affect the production of stainless steel in Indonesia. Under the existing cost advantage, the normal production of stainless steel in Indonesia will be maintained, or the volume of exports to other countries will be increased. And then squeeze out the share of China's stainless steel exports.

2) to improve the domestic stainless steel market in the short term. Indonesia's stainless steel imports accounted for 60 per cent of China's stainless steel imports in 2018, but according to customs data, Indonesia's stainless steel imports have fallen to about 50, 000 tons since October 2018 (160000 tons in January 2018). The market has reacted ahead of time. In this context, short-term relief of domestic market pressure. In the stainless steel market downward trend, or short-term decline narrowed. In the long run, it may affect China's stainless steel exports.

The specific contents of the announcement are as follows:

In accordance with the provisions of the Anti-dumping regulations of the people's Republic of China (hereinafter referred to as the "Anti-dumping regulations"), on July 23, 2018, the Ministry of Commerce (hereinafter referred to as the investigating organ) issued notice No. 62 of 2018, Decides to conduct an anti-dumping investigation into imported stainless steel billets and stainless steel hot rolled plates / rolls (hereinafter referred to as the products under investigation) originated in the European Union, Japan, South Korea and Indonesia.

The investigating authorities investigated whether there were dumping and dumping margin of the products under investigation, whether the products under investigation caused damage and the degree of injury to the domestic stainless steel billet and stainless steel hot rolled plate / coil industry, and the causal relationship between dumping and injury. In accordance with the results of the investigation and the provisions of Article 24 of the Anti-dumping regulations, the investigating organ made a preliminary ruling (see annex). The following is hereby announced in respect of the relevant matters:

I. preliminary ruling

The investigation authorities initially concluded that there was dumping of imported stainless steel billets and stainless steel hot-rolled plates / coils originally from the European Union, Japan, South Korea and Indonesia, and that the domestic stainless steel billet and stainless steel hot-rolled plate / coil industries were substantially damaged. Moreover, there is a causal relationship between dumping and substantive injury.

II. Collection of margin

In accordance with articles 28 and 29 of the Anti-dumping regulations, the investigating organ decided to implement the interim anti-dumping measures in the form of margin. With effect from March 23, 2019, when importing the products under investigation, the importer shall provide a corresponding deposit to the Customs of the people's Republic of China in accordance with the deposit ratio of each company as determined in this initial decision.

The specific descriptions of the products under investigation are as follows:

Scope of investigation: imported stainless steel billets and stainless steel hot rolled plates / rolls originally from the European Union, Japan, South Korea and Indonesia.

Investigated product name: stainless steel billet and stainless steel hot rolled plate / coil.

English name: Stainless Steel Billet and Hot-rolled Stainless Steel Plate (Coil)

Product description: stainless steel billet and stainless steel hot rolled plate / coil refer to alloy steel with carbon content of 1.2% or less and chromium content of 10.5% or more by weight, except cold rolling, whether or not it contains other elements. Stainless steel billet is rectangular (except square) section, or other stainless steel semi-finished products. Stainless steel hot rolled plate / coil is made from stainless steel billet after hot rolling process, which is coil or plate shape, regardless of width and thickness.

Main uses: there are usually two uses, one is as the raw material of cold rolled stainless steel, after cold rolling process treatment to make cold rolled stainless steel products; The other is sold directly as the final product, which is mainly used in shipping, container, railway, electric power, petroleum, petrochemical and other industries.

The product is classified under the Import and Export tariff of the people's Republic of China: 72189100, 72189900, 72191100, 72191200, 72191312, 72191319, 72191322, 72191329, 72191412, 72191419, 72191422, 72191429

The margin ratios levied on companies are as follows:

EU companies: 43.0%

Japanese companies:

1. Japan Metallurgical Industry Co., Ltd. 18.1%

(NIPPON YAKIN KOGYO CO., LTD)

2. 29.0% of other Japanese companies

(All Others)

Korean companies:

1. POSCO 23.1%

2. Other Korean companies 103.1%

(All Others)

Indonesian company: 20.2%

III. Methods of levying margin

Since March 23, 2019, when importing stainless steel billets and stainless steel hot rolled plates / rolls originally from the European Union, Japan, South Korea and Indonesia, The Customs of the people's Republic of China shall provide the Customs of the people's Republic of China with a corresponding deposit in accordance with the dumping margin of each company as determined in this preliminary decision. The deposit is calculated and collected from the customs approved duty-paid price, and the calculation formula is as follows: the deposit amount = (customs approved duty price × margin collection ratio) × (1 + value-added tax rate of import link).

IV. Comments

All interested parties may, within 10 days from the date of promulgation of this announcement, submit written comments and opinions to the investigating organ.

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