China Steel Corp. (CSC), Taiwan`s largest integrated producer of steel products, recently announced it is considering suing competitors from China, Japan, South Korea and India for dumping steel products in Taiwan.

The CSC has suggested the government slap 20% up to 50% anti-dumping taxes on four steel products imported from China, Japan, South Korea and India.

C.L. Tu, CSC executive vice president, said his company has lost ground to peers from the above-mentioned four nations as they have dumped low-price steel products, including steel plates and electric sheets, to Taiwan by enjoying subsidies offered by their governments. Plagued by such unfair competition from abroad, the CSC has resolved to file complaints with the government agencies.

Since the second quarter of this year, the CSC has suffered operating losses from sales of certain steel products because of the doldrums of the steel market and an oversupply in the Asian steel market, leading to a harsh price competition.

CSC vice president C.K. Liu noted his company is serious in filing complaints as it has employed lawyers to handle the lawsuit. Liu said the dumping of foreign-made low-price steel products has led to a chaotic steel market domestically and a sharp slump in steel prices.

In addition, the CSC has also suggested the government adopt strict quality-inspection measures on imported steel products to curb imports of inferior-quality steel products. The company said strict quality-inspection measures will ensure the high quality of domestic construction projects and the safety of public engineering works.