Japan is taking steps to impose anti-dumping duties on Chinese steel products coming through third countries. South Korea, on the other hand, launched an anti-dumping investigation into imports of stainless steel plates produced in China.
These steps follow growing concerns over the impact of cheap Chinese products. China's steel output decreased by more than 3% in the first eight months of 2024 compared to last year, but this cut was not enough to meet the requirements of the domestic market and steel exports increased by more than 20%.
Authorities in Seoul made allegations that a local company was selling Chinese products below market value. Japan's trade agency is considering talks with the Ministry of Finance. Nippon Steel Corp. supports the government for measures against Chinese steel.
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