South Korea Imposes Preliminary Tariffs of Up to 38.02% on Chinese Steel Plates
[tintuc]
On February 20th, the Korea Trade Commission, under the Ministry of Trade, Industry and Energy, held a meeting and conducted a preliminary investigation into the import of carbon and other alloy steel, hot-rolled steel plates, and thick steel plates from China. The Commission preliminarily determined that there was dumping, stating that the dumping had caused significant damage to South Korea's domestic industry.
Therefore, to prevent further potential damage, the Trade Commission proposed to the South Korean Minister of Strategy and Finance on the same day to apply temporary anti-dumping duties ranging from 27.91% to 38.02% on China. According to the preliminary ruling, the anti-dumping duty rates for different companies are 27.91% for Baosteel, 29.62% for Jiangsu Shagang, 38.02% for Xiangtan Iron and Steel, Sino International, and Xiamen International Trade Holdings, and 31.69% for other suppliers in China.
Thick plates are steel plates with a thickness of over 6 mm. Such products are widely used in fields such as shipbuilding and construction, and the domestic market size in South Korea has reached 8 trillion won. In recent years, the South Korean steel industry has continuously expressed dissatisfaction with the low export prices of Chinese steel companies. Data shows that South Korea imported 8.77 million tons of steel from China last year, the highest in seven years. The South Korean government decided to apply temporary anti-dumping measures to protect domestic steel, shipbuilding, and construction companies from this impact.
[/tintuc]
On February 20th, the Korea Trade Commission, under the Ministry of Trade, Industry and Energy, held a meeting and conducted a preliminary investigation into the import of carbon and other alloy steel, hot-rolled steel plates, and thick steel plates from China. The Commission preliminarily determined that there was dumping, stating that the dumping had caused significant damage to South Korea's domestic industry.
Therefore, to prevent further potential damage, the Trade Commission proposed to the South Korean Minister of Strategy and Finance on the same day to apply temporary anti-dumping duties ranging from 27.91% to 38.02% on China. According to the preliminary ruling, the anti-dumping duty rates for different companies are 27.91% for Baosteel, 29.62% for Jiangsu Shagang, 38.02% for Xiangtan Iron and Steel, Sino International, and Xiamen International Trade Holdings, and 31.69% for other suppliers in China.
Thick plates are steel plates with a thickness of over 6 mm. Such products are widely used in fields such as shipbuilding and construction, and the domestic market size in South Korea has reached 8 trillion won. In recent years, the South Korean steel industry has continuously expressed dissatisfaction with the low export prices of Chinese steel companies. Data shows that South Korea imported 8.77 million tons of steel from China last year, the highest in seven years. The South Korean government decided to apply temporary anti-dumping measures to protect domestic steel, shipbuilding, and construction companies from this impact.
[/tintuc]
