Market participants in Asia expect PT Indonesia Tsingshan Stainless Steel to be the most significantly affected should the European Union decide to impose anti-dumping duties on imports of stainless hot-rolled coil and sheet from the region.
The EU earlier this week initiated an anti-dumping investigation into imports of such products from China, Indonesia and Taiwan.The EU probe could further limit the number of markets available for Tsingshan Indonesia and comes after China imposed anti-dumping duties in July on stainless steel billet, slab, and hot-rolled plate and coil produced in Indonesia, Japan, South Korea and the EU."Tsingshan Indonesia will do its best to fight the EU case although it could be pressured to reduce its prices to boost sales if the tariffs are ultimately imposed," a source in Southeast Asia said.The mill, a subsidiary of China's Tsingshan Holding Group, is the Southeast Asian country's largest producer of stainless steel by volume. It has a 3-million-tonnes-per-year facility in Central Sulawesi province that is able to supply competitively priced cargoes because of lower production costs at its integrated complex that feeds liquid chrome and NPI directly from its smelters...