Russia reportedly peddling steel in Taiwan at unfair prices

Taiwan’s largest integrated steel maker said on Monday (July 18) that action will be taken against the alleged peddling of low-priced Russian hot-rolled steel in the country.

According to Kaohsiung-based China Steel Corporation (CSC), Russia has attempted to sell its glut of steel goods to Asian markets at unreasonable prices under the pressure of global sanctions due to its invasion of Ukraine. Hot-rolled Russian steel is believed to have reached the shores of Taiwan, the company said in a statement.

Left unchecked, such sales risk disrupting Taiwan’s market and exposing domestic industry players to anti-dumping violations overseas if they are tempted to purchase the discounted steel and re-export relevant products. This will further dent Taiwan’s reputation, CSC suggested.