Beijing’s retaliatory imposition of anti-dumping duties on imported steel used in the manufacture of power transformers early this month will help boost domestic producers’ capacity utilisation, but analysts say it will take years to resolve the Chinese industry’s overcapacity problem, according to the South China Morning Post. Duties of 14.5% to 46.3% had been slapped on grain-oriented flat-rolled electrical steel imported from Japan, South Korea and the European Union, the Ministry of Commerce said on April 1. The duties are seen as tit-for-tat action amid an ongoing global trade war in the steel sector.
Categories