May 21, 2021
SOUTH KOREA TO GIVE FINAL RULING ON DUMPED STAINLESS STEEL IN JULY
2021-07-14
South Korea plans to make a final determination on imposing antidumping duties on flat-rolled stainless steel from China, Indonesia and Taiwan in July, the Ministry of Trade, Industry and Energy said May 20, citing the Korea Trade Commission.
The impending decision comes after South Korea made a preliminary determination on Feb. 18 that the said steel products were dumped into the local market.
Korea Trade Commission conducted a probe after local steelmaker Posco filed a complaint in July 2020, alleging that the products were being dumped.
Upon a final decision, anti-dumping duties of 49.04% will be slapped on the products from China, 29.68% on those from Indonesia and 9.20%, 9.30% and 9.51% on those from Taiwan.
The ministry said the size of the South Korean market for the product was about 2 million mt in 2019, of which local production accounted for 40%. Flat-rolled stainless steel from China, Indonesia and Taiwan was responsible for about 10%-20% each.
The products affected start from codes 7219121010 until 722090900 of the HS (Harmonized Commodity Description and Coding System).
— Clement Choo
Source: Eurometal
