South Korea holds hearing on stainless steel coil anti-dumping case involving China, Indonesia, and Taiwan
South Korea holds hearings on anti-dumping cases involving stainless coils in China, Indonesia, and Taiwan
According to the Korea News Agency, the Korea Trade Commission held a public hearing on the anti-dumping case of stainless steel coil imports from China, Indonesia, and Taiwan on Thursday, and will make a final ruling in July.
According to the Korea Trade Commission, the move was made after Korea decided to investigate stainless coils in China, Indonesia, and Taiwan in September 2020. South Korea’s POSCO filed a complaint with the European Commission on anti-dumping by its foreign competitors in July 2020.
According to the report, South Korea made a preliminary decision in February this year that the import price of flat-rolled stainless steel from these countries and regions was lower than the market price, which had an adverse effect on the local industry.
According to the decision, South Korea will consider imposing about 49% anti-dumping tariffs on Chinese products and 29.68% anti-dumping tariffs on Indonesian products, while imports from Taiwan may face tariffs of 9.2-9.51%. Products from China, Indonesia, and Taiwan account for about 40% of the Korean market, while local Korean companies account for another 40%. The committee plans to make a final decision in July based on the opinions gathered at the hearing.