Japan launched an anti-dumping investigation into flat steel imports from three countries

Japan has launched an anti-dumping investigation into imports of major steel products from China, South Korea, and Taiwan, according to Bloomberg.

According to the country’s Ministry of Economy, Trade and Industry, the investigation will cover imports of hot-rolled and cold-rolled coils, strips, and sheet steel.

The investigation was initiated by leading Japanese steel producers, including Nippon Steel and JFE Steel, and is expected to last a year.

As the agency notes, this intensifies signs of trade tensions in the steel sector, which is suffering from a global overcapacity.

“In Japan as well, the need for appropriate trade remedy measures has become increasingly urgent,” the Japan Iron and Steel Federation said in a statement following the government’s announcement.

In a February request for a trade investigation, Japanese steel producers claimed that the targeted products were being sold to Japan at prices up to 50% below their normal value. Flat-rolled steel is widely used in various industries, ranging from the automotive and consumer goods sectors to machinery manufacturing and packaging.

In addition, the industry association noted that the country’s steelmakers will continue their efforts to monitor unfair import practices, not limited to the products subject to the newly launched investigation, and will consult with the Japanese government whenever necessary regarding further trade defense measures.

Last year, Tokyo had already launched an investigation into imports of certain types of coated steel and stainless steel from the listed countries.

As a reminder, Ukraine initiated an anti-dumping investigation into coated steel from four countries — Turkey, Vietnam, South Korea, and India.