Taiwan's finance ministry has ruled that Chinese and South Korean steelmakers dumped electrical steel sheets into the local market, a win for China Steel and a blow to POSCO and other exporters.

• Taiwan set dumping margins as high as 59% on South Korean makers and 26% on Chinese ones, and began collecting provisional duties immediately.
• POSCO's margin rose from the preliminary ruling after on-site checks in South Korea turned up paperwork that did not match what the company had submitted.
• No Chinese producer cooperated with the probe, so Taiwan calculated their rate from whatever data it could get.
• South Korea's share of these imports has already fallen sharply since the case opened, while China's share crept up.

Outlook: The economics ministry now has 40 days to decide whether the dumping actually hurt Taiwan's industry, which determines if the duties become permanent.