China to levy anti-dumping duties on EU, Japanese, S.Korean electric steel products: Xinhua | Reuters - Firstpost
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China to levy anti-dumping duties on EU, Japanese, S.Korean electric steel products: Xinhua | Reuters

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BEIJING China, accused of flooding world markets with cheap steel, has started levying anti-dumping duties as high as 46.3 percent on electric steel products imported from Japan, South Korea and the European Union, according to China's official Xinhua news agency said on Sunday.

China began levying the duties on Saturday after an investigation by the country's Ministry of Commerce found evidence of dumping that was harming Chinese industry, Xinhua said.

    It added the duties range from 37.3 percent to 46.3 percent.

    China's huge steel sector has turned to overseas markets to try to ease a huge supply surplus, with product exports reaching a record 112 million tonnes in 2015, up 19.9 percent on the year.

(Reporting by Norihiko Shirouzu in Beijing, editing by Louise Heavens)

This story has not been edited by Firstpost staff and is generated by auto-feed.

First Published On : Jul 24, 2016 23:03 IST

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