By Berk Kutay Gokmen
ISTANBUL (AA) - The Japanese government has launched an investigation into claims that stainless steel products were exported from China and Taiwan at unfairly low prices in response to a complaint from four domestic manufacturers, Kyodo News reported.
The finance and trade ministries announced on Tuesday that the investigation will determine whether to levy anti-dumping duties on imports of nickel-added cold-rolled stainless steel coils, sheets, and strips. The investigation is expected to be completed within a year.
The request was submitted to the government on May 12 by Nippon Steel Corp., Nippon Yakin Kogyo Co., NAS Stainless Steel Strip MFG. Co., and Nippon Kinzoku Co., the ministries said.
The allegations state that Chinese and Taiwanese products were sold in Japan at prices 20% to 50% and 3% to 20% lower, respectively, than those in their home markets.
As a result, Japanese buyers shifted to the cheaper imports, pressuring domestic producers to reduce their prices and causing business setbacks, including a decline in operating profits.