[SMM Hot Topic:]Japan Launches Anti-Dumping Investigation on Galvanized Steel Strips and Sheets from China – How Significant Is the Impact?

• Background

On August 13, 2025, Japan's Ministry of Finance announced the initiation of an anti-dumping investigation into galvanized steel strips and sheets (Japanese: 溶融亜鉛めっき鋼帯及び鋼板) originating from China and South Korea. The investigation was requested by domestic manufacturers Nippon Steel Corporation, Nittetsu Steel Sheet Co., Ltd., Kobe Steel, and Yodogawa Steel Works on April 28, 2025. The涉案产品的日本海关税号为7210.49, 7212.30, 7225.92, and 7226.99.
The dumping investigation period covers January 1 to December 30, 2024, while the injury investigation period spans April 1, 2022, to March 31, 2025.
Questionnaires have been distributed to stakeholders. Those who do not receive them within seven days of the investigation's initiation must submit written applications and supporting materials to Japan's Ministry of Finance within 14 days.

• Total Exports of the Investigated Products Surged in 2024, Ranking First Among China's Steel Exports by Category

Figure 1: Total Exports of the Investigated Products from China and YoY Changes, 2022-June 2025 (10,000 mt)

Customs data shows that China's exports of the investigated products grew slowly at first before accelerating sharply in 2024, with a YoY growth rate of 558.61%. The total export volume reached 11.5212 million mt, making it the top category in China's steel exports by product in 2024. As of June this year, exports stood at 6.3575 million mt, still ranking first, up 16.83% YoY (5.4419 million mt in the same period of 2024), with a monthly average of 1.0596 million mt.

Figure 2: Total Exports of the Investigated Products from China to Japan and YoY Changes, 2021-June 2025 (10,000 mt)

The significant increase in China's exports of the investigated products to Japan also occurred in 2024, jumping from an annual total of less than 10,000 mt to 321,600 mt. In the first six months of this year, China exported 127,100 mt of the investigated products to Japan, down 26.46% YoY (172,800 mt in the same period of 2024). In absolute terms, the monthly average for the first half of the year was 21,200 mt, accounting for only 1.99% of China's monthly average exports of the investigated products.

• Exports to Japan Account for a Relatively Small Share, While New Markets Are Actively Explored

Table 2: Total Exports of the Investigated Products to Japan and Their Share in China's Total Exports, 2021-June 2025

The share of the investigated products exported to Japan in China's total exports initially rose before declining, but the overall proportion remained relatively small. As of the first six months of 2025, the ratio was just 2%, down YoY from 2024. According to customs data, China exported 127,100 mt of the investigated products to Japan in the first half of 2025, having a relatively limited impact on China's total exports of these products. In an extreme scenario, this could lead to a decline of 127,100 mt in China's total exports in 2026.

Data shows that as exports of the investigated products to Japan declined in 2025, Japan's ranking among export destinations dropped from 7th in 2024 to 12th. Meanwhile, countries such as Israel, Pakistan, Saudi Arabia, and Iraq moved up in the rankings. This indicates that Chinese exporters are actively diversifying risks by exploring new markets amid trade uncertainties.

SMM will closely monitor the progress and impact of overseas anti-dumping investigations on steel products. Stay tuned for updates and follow our official account for more insights.

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