The South Korean Trade Commission (KTC) has recommended that the Ministry of Economy and Finance introduce preliminary anti-dumping measures for imports of rolled carbon and alloy steel (HRC) from China and Japan. This is reported by Mysteel Global.
The KTC investigation was launched in March of this year based on a complaint filed by Hyundai Steel. The company claims that the influx of cheap Chinese and Japanese hot-rolled products has damaged the local steel market.
The KTC recommended imposing preliminary anti-dumping duties ranging from 31.58% to 33.57% on Japanese HRC, and from 28.16% to 33.1% on Chinese products. The Ministry of Finance will decide whether to apply preliminary anti-dumping measures by the end of August this year.
Earlier this year, South Korea imposed temporary anti-dumping duties on Chinese companies for the import of rolled steel used in shipbuilding and construction. The Trade Commission announced that the tariff rate will range from 27.91% to 38.02%.
