(Taipei) MOF to investigate steel-dumping charges against four countries

28/03/2012 12:00 - 377 Views

Taipei, March 27 (CNA) The Ministry of Finance (MOF) said Monday that it will investigate charges that four countries have dumped steel products in Taiwan's market.

The MOF said state-owned China Steel Corp. has filed dumping charges against competitors from South Korea, India, China and Japan, accusing them of selling their products at between 17 and 38 percent below "fair market value."

In the complaint filed by China Steel, India and South Korea were accused of selling hard-rolled carbon steel plate at dumping margins of 38.35 percent and 35.89 percent, respectively.

China and South Korea were accused of selling cold-rolled steel flat products at dumping margins of 34.16 percent and 30.28 percent, respectively, and Japan was said to be selling low-grade non-grain oriented electrical steel sheets at a dumping margin of 17.12 percent.

The dumping margin, defined as the difference between a product's "fair price" and its actual export price, is used as the basis for setting anti-dumping duties.

The MOF said data provided by China Steel showed that the products have harmed Taiwan's steel industry, leading it to launch an investigation.

The MOF expected it would hand down a ruling by the end of July, including whether to impose tentative anti-dumping duties.

By Eva Feng and Lilian Wu

Source: taiwannews.com.tw