|China imposes anti-dumping duties on iron based alloy ribbon imports
The Ministry of Commerce (MOC) announced Friday that it will impose anti-dumping duties on imports of iron based amorphous alloy ribbon from the United States and Japan.
The duties will last for five years starting Friday, the ministry said.
According to the ministry's final ruling, companies from the United States and Japan have dumped the ribbon on the Chinese market and such imports have caused substantial damage to the domestic industry.
Anti-dumping duty rate for US imports was set at 48.5 percent, and for Japanese imports it was set at 25.9 percent, said the ministry.
It launched an anti-dumping probe into imported iron based amorphous alloy ribbon in November last year.
Iron based amorphous alloy ribbon, a solid metallic material, is used in the production of transformers and inductors.