Japanese Finance Ministry: "Dumping Margins for Korean Steel 32-43%... Higher for China"

Japanese Ministry of Finance Releases Interim Report

"Japanese Companies Harmed by Dumping from South Korea and China"

Major Steelmakers and Trading Firms Included in Investigation

On July 24, the Japanese government issued a preliminary determination that steel products from South Korea and China have been exported at prices lower than normal, causing substantial harm to Japan’s domestic steel industry. Depending on the outcome of the final investigation, anti-dumping duties may be imposed.

Satsuki Katayama, Japan's Minister of Finance, attended the House of Councillors Budget Committee in Tokyo on April 7. Photo by Reuters and Yonhap News Agency

The Japanese Ministry of Finance and Ministry of Economy, Trade and Industry reached a provisional conclusion on this day, recognizing both the existence of dumping imports and the resulting material injury to Japan’s domestic industry regarding galvanized steel coil and sheets from South Korea and China. Galvanized steel sheets refer to steel products coated with zinc to enhance corrosion resistance, and are used as construction materials for guardrails, homes, fences, and as components for home appliances such as refrigerators.

According to the interim report released by the Japanese Ministry of Finance, the main South Korean companies under investigation include steel and trading companies such as POSCO, Hyundai Steel, KG Steel, Seah CM, Dongkuk CM, Samsung C&T, GS Global, Hyosung TNC, and Dongkuk Steel. The Ministry of Finance has been conducting investigations since August 13, 2025, targeting suppliers from South Korea and China during the designated review period. This investigation began in April 2025 when four Japanese firms — Nippon Steel, Nittetsu Sheet, Kobe Steel, and Yodogawa Steel Works — requested the imposition of anti-dumping duties.

Capture of the interim report on Japan Ministry of Finance anti-dumping investigation. Ministry of Finance

The transactions under analysis are exports from 2024. The dumping margins for South Korean companies have been provisionally calculated at between 32.49% and 42.69%. For some companies, including Dongkuk Steel, that did not submit the necessary documents for the investigation, the dumping margins were determined based on facts available to the Japanese government. Chinese companies' margins are estimated to be much higher, at 63.95% to 68.67%. The dumping margin is the percentage difference between the normal value and the sales price in Japan, and serves as the basis for determining anti-dumping duties.

However, this decision is only preliminary, not final. Japan's Minister of Finance Satsuki Katayama announced at a press conference following the Cabinet meeting on this day that the investigation would continue in order to reach a final determination. The Japanese government will collect additional evidence and opinions from interested parties, and, in accordance with both WTO agreements and domestic law, will continue the investigation before deciding whether to impose the final anti-dumping duties. The final results are also expected to be announced within this year.

This content was produced with the assistance of AI translation services.