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FACT BOOK 2021

Basic Facts About Nippon Steel

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Steelmaking Operations

Steel Trading

1. Topics related to recent steel trading (as of May 2021)

(1) Overview

Trade conflicts related to steel products have been increasing since 2008. In 2020, 23 Anti-Dumping ("AD") investigations were initiated throughout the world (19 cases in 2019). Major target countries are China (8 cases), Vietnam(8 cases) and Korea (7 cases). As for Japan, no AD investigations were initiated in 2020.
Moreover, since March 2018, the U.S. has been continuing to impose 25% tariff on the imports of steel articles based on Section 232 of the Trade Expansion Act of 1962, and in response to that, European Union, Canada, Gulf Cooperation Council initiated safeguard measures or investigations for comprehensive steel products, which affected export of certain Japanese steel products.
Also, mainly in the Asian region, protective measures regarding import of steel products, such as mandatory standards (imported products to be required to conform to importing countries' standards for protection of health and safety or for preservation of environment) and pre-shipping inspection requirements, have been prevalent.

(2) AD measures against Japan in the iron and steel industry around the world

Plaintiff country Target product type and progress ("SSR" stands for "Sunset Review.")
U.S.A. Clad steel: A measure was started in July 1996.
Stainless steel wire rods: A measure was started in September 1998.
Stainless steel sheets: A measure was started in July 1999.
Seamless steel pipes (large diameter): A measure was started in June 2000.
Seamless steel pipes (small diameter): A measure was started in June 2000.
Tinplates/tin-free steel: A measure was started in August 2000.
Large-diameter welded line pipes: A measure was started in December 2001.
Nickel-plated steel sheets: A measure was started in May 2014.
Non grain oriented electrical steel: A measure was started in November 2014.
Cold-rolled steel sheets: A measure was started in June 2016.
Hot-rolled steel sheets: A measure was started in September 2016.
Plates: A measure was started in May 2017.
Concrete reinforcing bars: A measure was started in June 2017.
Canada Plates: A measure was started in May 2014.
Certain large diameter line pipe: A measure was started in October 2016.
Concrete reinforcing bars: A measure was started in May 2017.
Mexico Seamless steel pipes: A measure was started in November 2000. The SSR has been initiated since November 2020.
Plates: A measure was started in April 2019.
EU Grain oriented electrical steel: A measure was started in October 2015. The SSR has been initiated since October 2020.
China Grain oriented electrical steel: A measure was started in July 2016.
Stainless billet and stainless steel hot-rolled steel sheets & coils: A measure was started in July 2019.
Korea Stainless steel plates: A measure was started in April 2011.
Stainless steel bars: A measure was started in July 2004.
Thailand Stainless steel cold-rolled sheets: A measure was started in March 2003.
Hot-rolled steel sheet & plates: A measure was started in May 2003. The SSR has been initiated since May 2020.
Indonesia Cold-rolled steel sheets: A measure was started in March 2013. The SSR has been initiated since September 2015. (No duty since March 2016)
Malaysia Cold-rolled steel sheets: A measure was started in December 2019.
India Hot-rolled steel sheet & plates: A measure was started in May 2017. The SSR has been initiated since March 2021.
Cold-rolled steel sheets: A measure was started in May 2017. The SSR has been initiated since March 2021.
Australia Shaped steel: A measure was started in November 2014.
Plates (Quenched and tempered ) : A measure was started in November 2014.

(3) Negotiations on economic partnership agreements (items related to the reduction of tariffs on steel products in the partner country)

April 2005 The Japan/Mexico Economic Partnership Agreement came into effect.
  • Immediate tariff removal rate of steel products: 80% (The user specific duty free scheme was introduced.) Tariff removal rate within 10 years: 100%
  • In February 2011, review the negotiation five years later has been agreed. The rules of origin for stainless steel sheet was improved.
July 2006 The Japan/Malaysia Economic Partnership Agreement came into effect.
  • Immediate tariff removal rate of steel products: 100% (The current domestic tariff exemption systems for each application was maintained.)
    Tariff on steel products excluding hot rolled steel sheet will be abolished within 10 years.
November 2007 The Japan/Thailand Economic Partnership Agreement came into effect.
  • Immediate tariff removal rate of steel products: 60% (An import quota for no tariffs was set up.) Tariff removal rate within 10 years: 100%
  • The governments discuss the import quota for no tariffs every year. The Steel Cooperation Program was carried out until 2016.
July 2008 The Japan/Indonesia Economic Partnership Agreement came into effect.
  • Immediate tariff removal rate of steel products: 80% (The user specific duty free scheme was introduced.) Tariff removal rate within 10 years: 85%
December 2008 The Japan/Philippines Economic Partnership Agreement came into effect.
  • Immediate tariff removal rate of steel products: 60% (An import quota for no tariffs was set up.) Tariff removal rate within 10 years: 90%
October 2009 The Japan/Vietnam Economic Partnership Agreement came into effect.
  • Immediate tariff removal rate of steel products: 10%; tariff removal rate within 10 years: 80%
August 2011 The Japan/India Economic Partnership Agreement came into effect.
  • The tariffs on steel sheet/bars will be abolished in 5 years, while tariffs on steel pipes will be abolished in 10 years.
January 2015 The Japan/Australia Economic Partnership Agreement came into effect.
  • Tariff removal rate within 5 years: 100%
December 2018 The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (TPP11) came into effect among the following
6 countries-Mexico, Japan, Singapore, New Zealand, Canada and Australia, followed by Vietnam in January 2019.
  • Immediate tariff removal rate of steel products is almost 100%, while some of the steel products will have tariffs removed gradually.
February 2019 The Japan/EU Economic Partnership Agreement came into effect.
  • Immediate tariff removal rate of steel products: 100%
January 2021 The Japan-UK Comprehensive Economic Partnership Agreement came into effect.
  • Immediate tariff removal rate of steel products: 100%

(4) Steel dialogues

March 2016 The 12th Japan/EU Steel Dialogue was held (in Tokyo).
May 2017 The 7th Japan/Indonesia Steel Dialogue was held (in Indonesia).
July 2017 The 17th Japan/Taiwan Steel Dialogue was held (in Taipei).
September 2017 The 23th Japan/China Steel Dialogue was held (in Beijing).
November 2017 The 18th Japan/Korea Steel Dialogue was held (in Seoul).
November 2017 The 15th Japan/Thailand Steel Dialogue was held (in Bangkok).
August 2018 The 24th Japan/China Steel Dialogue was held (in Tokyo).
September 2018 The 18th Japan/Taiwan Steel Dialogue was held (in Tokyo).
October 2018 The 8th Japan/Indonesia Steel Dialogue was held (in Tokyo).
November 2018 The 19th Japan/Korea Steel Dialogue was held (in Tokyo).
December 2018 The 16th Japan/Thailand Steel Dialogue was held (in Tokyo).
August 2019 The 19th Japan/Taiwan Steel Dialogue was held (in Tokyo).
February 2020 The 17th Japan/Thailand Steel Dialogue was held (in Bangkok).
November 2020 The 20th Japan/Taiwan Steel Dialogue was held(Web meeting).
December 2020 The 18th Japan/Thailand Steel Dialogue was held(Web meeting).
March 2021 The 9th Japan/Indonesia Steel Dialogue was held(Web meeting).