South Korea to Impose AD Duty on Flat Stainless Steel Imports
Yonhap reported that South Korea's trade dispute agency Korea Trade Commission held a public hearing on anti-dumping cases of flat rolled stainless
Yonhap reported that South Korea's trade dispute agency Korea Trade Commission held a public hearing on anti-dumping cases of flat rolled stainless steel imported from China, Taiwan and Indonesia, prior to its final ruling slated in July for probe launch in September 2020.
South Korea's top steelmaker POSCO filed the complaint with the commission over anti-dumping by their foreign rivals in July 2020. Commission made a preliminary decision in February, saying that flat-rolled stainless steel products from the three countries were imported at below-market prices, having adverse impacts on local industries. Under the decision, South Korea will consider imposing around 49% anti-dumping tariffs on Chinese products, 29.68% for those from Indonesia & 9.2-9.51% forTaiwan
Products from the three countries accounted for roughly 40%. South Korean firms took up around 40% of the market.