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China Steel's anti-dumping case against South Korea, India rejected

2012/05/25 23:26:59

Taipei, May 25 (CNA) The Ministry of Economic Affairs said Friday that an anti-dumping case filed by China Steel Corp. against South Korea and India was overruled, as the steel company was not hurt by the imports and no attempts to dump steel was discovered.

"During the preliminary investigation which began March 26, no injury or dumping has been found," said Herbert Juan, deputy executive secretary of the ministry's International Trade Commission.

The case will be closed after the ministry sends its report to the Tariff Commission under the Ministry of Finance on May 28, Juan said.

If the company does not accept the ruling, it can bring the case to the Supreme Administrative Court, he added.

China Steel, one of Taiwan's leading steel makers, filed the anti-dumping case last November against Steel Authority of India Ltd. and the Essar Group of India as well as Dongkuk Steel Mill Co. Ltd., Pohang Iron and Steel Co. Ltd. and Hyundai Hysco Co. of South Korea.

According to the Taiwanese company, the dumping margins of hot rolled steel plates from India and South Korea were 38.35 percent and 35.89 percent, respectively.

Based on import volume, market share and surveys, the ministry said it was the rising prices of the raw materials, such as coal and wrought iron, which resulted in the decline in China Steel's profits, not dumping policies.

The market share of rolled steel plates from India and South Korea during the period they were accused of dumping grew 5 percent, while the share of Taiwan-made products expanded 8 percent, Juan said.

In addition, although the products from the two countries have been cheaper than those of Taiwanese manufacturers since 2009, the same product from other countries was priced even lower during the period, leading the agency to reject the dumping case, the ministry said.

China Steel filed three anti-dumping cases last November against Japan, China, India and South Korea but later retracted two of them, leaving only its petition on hot rolled steel plate to be considered.

(By James Lee)