Taipei, Aug. 21 (CNA) China Steel Corp. (CSC) said Sunday that cheap steel flowing into Taiwan from several countries has had a huge impact on the local market and that it is planning to file an anti-dumping lawsuit to stem the influx.

According to CSC, quoted steel prices from companies in China, Japan, South Korea and India are substantially lower than the quotes offered in the original countries and have led to Taiwanese steel firms seeing a decline in orders for both exports and domestic use.

It said that this type of unfair pricing has forced the company to drastically lower its steel prices in the third quarter, even though the cost of raw materials remains high.

CSC said the low prices for imported steel have very likely caused a deficit in local firms and that the direct harm to local companies constitutes the definition of dumping.

Aside from the much-lower-than-market-price quotations, imported steel is also of lower quality, CSC said, adding that such steel can pose safety issues if used in construction projects.

CSC has consulted the Ministry of Finance and the Chinese National Federation of Industries on anti-dumping duties for such cheap imports and the company said its lawyers are evaluating the possibility of anti-dumping charges and might suggest the imposition of anti-dumping duties. (By Eva Feng and Jamie Wang) ENDITEM/J

Source: http://focustaiwan.tw