Japan and South Korea have recently taken steps to impose anti-dumping measures on Chinese steel products amid growing global resistance to China's low-priced commodities.
South Korea has announced plans to initiate an anti-dumping investigation into stainless steel plates imported from China, following allegations from a domestic company that low-priced imports are negatively impacting the local market.
The decision follows a complaint filed in June with the Korea Trade Commission by DK Corp. alleging that stainless steel plates from four Chinese producers were being imported at prices below fair market value.
At the same time, Japan's Ministry of Economy, Trade and Industry is considering expanding existing anti-dumping duties to cover Chinese steel and other products routed through third countries.
These measures come as countries around the world, including South America and the United States, have raised concerns about the influx of cheap Chinese goods. Many countries responded by raising tariffs on steel imports from China.
China's steel production fell by more than 3% in the January-August 2024 period compared to the same period last year, but the country's decline in domestic demand caused steel exports to increase by more than 20%.
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