China, Beijing: China's Ministry of Commerce says it has imposed anti-dumping duties on steel imports from Japan, South Korea and the European Union.

China imposes anti-dumping duties on Japan, Korean and EU steel

China, Beijing: China’s Ministry of Commerce says it has imposed anti-dumping duties on steel imports from Japan, South Korea and the European Union.

The ministry said on its website that imports of grain-oriented electrical steel will be charged duties ranging from 37.3 % to 46.3 %.

Such steel is used in the manufacture of transformers and large generators.

The ministry said China started levying the duties on Saturday and would continue to do so for five years. It said an investigation found that underpriced steel was hurting Chinese industry.

For its part, Beijing faces mounting criticism from the United States and Europe that it is exporting steel at unfairly low prices to clear a backlog. Western governments say that hurts their producers and threatens thousands of jobs.

Source: CNBC