Japan has opened an anti-dumping investigation into nickel-based stainless cold-rolled steel sheets and strips from China and Taiwan.
The Ministry of Economy, Trade and Industry and the Ministry of Finance said Tuesday the investigation is based on a petition filed in May by Nippon Steel and other Japanese producers.
The domestic companies say cheap imports have forced them to cut prices as local demand weakens. They also claim they are unable to reflect rising costs in their prices, leading to lower operating profits and financial losses.
The steelmakers say imports are being sold in Japan at prices 20% to 50% below those in China and 3% to 20% below those in Taiwan.
Japan plans to finish the investigation within a year and will decide afterward whether to impose anti-dumping duties.
The case comes as Chinese steel production and exports draw global attention. Several countries have accused China of giving subsidies to its steelmakers, allowing them to produce more and sell at low prices abroad. Many countries have already imposed trade measures in response, but Japan has not yet taken similar steps.
Tadashi Imai, chairman of the Japan Iron and Steel Federation and president of Nippon Steel, has warned that Japan could face more low-cost imports if other countries continue to block Chinese steel.
