According to a statement from China’s Ministry of Commerce, the current duty rates will remain unchanged. Imports from the EU and the UK will continue to face a 43% anti-dumping duty. South Korean producer POSCO will be subject to a 23.1% duty, while other South Korean companies will face a significantly higher rate of 103.1%. Stainless steel products from Indonesia will remain subject to a 20.2% duty.
The affected items include stainless steel billets and hot-rolled stainless steel plates and coils, falling under specific HS codes. Importers of these products are required to pay the applicable duties to Chinese customs upon entry. However, POSCO remains exempt from some of these duties due to a price undertaking agreement it has with the Chinese authorities.
This decision reflects China’s long-term strategy to support its domestic stainless steel sector by mitigating the pressure of low-priced imports and ensuring fairer competition in the market.
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