In a joint statement released by Japan's Ministry of Economy, Trade and Industry and the Ministry of Finance on July 22, it was stated that the investigation was initiated upon the application of domestic producers.
The investigation follows a petition submitted by domestic producers, including Nippon Steel, on May 12. In the petition, it was stated that demand in the domestic market has shrunk due to cheap imports from China and Taiwan, forcing producers to cut prices and causing serious losses.
Producers in Japan claimed that Chinese products entered the market at 20% to 50% lower prices, while Taiwanese products entered the market at 3% to 20% lower prices. It was noted that these price differences led to unfair competition for domestic producers who were unable to meet rising production costs and negatively affected their operating profitability.
The ministries announced that the investigation is planned to be completed within a year and a decision will be made on whether to impose anti-dumping duties in line with the findings.
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