Taiwan's Chinese traders are suspected of causing serious harm to local mills by selling cheap Russian steel products on the local market.
More than 100,000 tons of Russian cheap slabs and hot rolled products under Western sanctions have recently appeared on the Taiwanese market thanks to Chinese sellers. Products at discounted prices caused serious damage to local producers.
According to the chairman of China Steel Corporation (CSC) and Taiwan Steel and Iron Industries Association Chaodong Weng, CSC plans to launch an import monitoring mechanism through Taiwan Association.
CSC will not only initiate the monitoring mechanism for imports through Taiwan Steel and Iron Industries Association, but will also inform relevant departments to request further investigation on potential damages from dumped steel products. Chaodong Weng said that if the result is positive, an anti-dumping (AD) complaint will be filed to protect the interests of Taiwan's steel industry.
European Union, United Kingdom, United States and developed Asian countries markets banned steel imports from Russia. The Turkish market and the MENA markets remain open. However, even there most buyers try to avoid Russian products. To improve the situation, the Russians offer customers significant discounts that create uncompetitive conditions for other suppliers.
Such an aggressive trade policy of the Russians is upsetting the markets of the MENA countries. Large off-market discounts on Russian imports are hurting domestic steelmakers.
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