Japan’s Ministry of Finance and Ministry of Economy, Trade and Industry announced on June 1 that they have initiated anti-dumping investigations into two types of steel products imported from South Korea, mainland China, and Taiwan: hot-rolled steel sheets (steel strips) and cold-rolled steel sheets (steel strips). The former are mainly used in automobiles and building materials, while the latter are mainly used in home appliances and automotive parts. The investigation was jointly requested by companies such as Nippon Steel and JFE Steel in February this year, citing that the imported products are seizing domestic demand and causing losses. The investigation is scheduled to be completed within one year, after which a decision will be made on whether to impose anti-dumping duties on the aforementioned imported steel products.
On the same day, Masayuki Hirose, chairman of the Japan Iron and Steel Federation and president of JFE Steel, said, “We will strengthen supervision of unfair imports while studying further countermeasures with the government.” The background of this investigation is the continued spillover of overcapacity in Chinese steel companies, which has become an international issue. Major economies such as Japan, Europe, and the United States have successively adopted trade remedies in recent years.