Jul 18, 2022
Russia reportedly peddling steel in Taiwan at unfair prices
2022-07-19
TAIPEI (Taiwan News) — Taiwan’s largest integrated steel maker said on Monday (July 18) that action will be taken against the alleged peddling of low-priced Russian hot-rolled steel in the country.
According to Kaohsiung-based China Steel Corporation (CSC), Russia has attempted to sell its steel goods to Asian markets at knock-down prices under the pressure of global sanctions due to its invasion of Ukraine. Hot-rolled Russian steel is believed to have reached the shores of Taiwan, the company said in a statement.
Left unchecked, such sales risk disrupting Taiwan’s market and exposing domestic industry players to anti-dumping violations overseas if they are tempted to purchase the discounted steel and re-export the products. This will further dent Taiwan’s reputation, CSC suggested.
The company said it is collecting evidence before adopting measures to restore order to the market while preventing unfair trade practices. India has voiced similar concerns, with local steel makers wary of unfair competition in the face of Russian steel available at distress prices, per the Economic Times.
Source: Taiwan News
