US "Double Opposition" final ruling has limited impact on the stainless steel sink industry

The U.S. Department of Commerce recently made a definitive final ruling that China has dumped stainless steel sinks exported to the United States. At the same time, Chinese exporters have received subsidies that exceed the allowable range and will impose high “double reverse” charges on them. Industry sources pointed out that the excess capacity of stainless steel in China is more serious, and the enhancement of the digestive capacity of the domestic market is expected to alleviate this problem. It is expected that the impact on the industry will not be obvious. However, due to the high demand for raw materials for the cold-rolled stainless steel drawing sinks at the current export, upstream companies will also be affected by the “double reverse”.

The U.S. Department of Commerce recently made a definitive final ruling that China has dumped stainless steel sinks exported to the United States. Chinese exporters of such products also received subsidies that exceeded the allowable range. To this end, the United States will impose 4.80% to 12.26% countervailing duties and 27.14% to 76.53% anti-dumping duties respectively. In accordance with the U.S. trade law enforcement requirements, companies involved in the subsequent lawsuits must pay a cash deposit to U.S. Customs at the final discretionary rate.

At present, the United States International Trade Commission has not made a final ruling. Experts in the industry predict that although the "double reverse" final ruling will not have much impact on the stainless steel wire drawing sink industry, because the trade protectionism has intensified after the financial crisis, the prospect of responding is pessimistic.

Limited impact on the industry The final results of the US Department of Commerce stated that Chinese stainless steel sink manufacturers or exporters have dumping behavior when selling such products in the United States, with a dumping margin of 27.14% to 76.53%. In addition, China's products exported to the United States have also received 4.80% to 12.26% subsidies, which exceeds the 2% prescribed by the WTO for developing countries.

According to data from the US Department of Commerce, in 2011 the United States imported a total of $118 million worth of stainless steel water tanks from China. If the United States finally decides that the "double counter-insurgency" behavior is set up, Chinese companies will pay up to 12.26% of countervailing duties and up to 76.53% of anti-dumping duties.

In response, Chai Bin, chief editor of stainless steel industry of “My Steel Net”, said that unlike the previous export of stainless steel wire drawing sinks, with the acceleration of China’s urbanization process, in recent years, the domestic market’s ability to digest such products has increased significantly. . After the financial crisis, many companies vigorously developed the domestic market and no longer simply pursued the "one side down" of the international market. In recent years, there are no shortage of high quality companies in the country. For example, stainless steel sinks produced by Ningbo Olin and Jiumu Group have certain competitiveness. Therefore, "increased domestic and international balance of industrial development will help companies resist turmoil from the international market."

According to "My Steel Net" statistics, as of the end of 2012, China's per capita consumption of stainless steel, including public places, was already 7 kg/person, which is equivalent to that of developed countries.