South Korea’s Ministry of Trade, Industry, and Energy announced that the Korea Trade Commission is considering the imposition of provisional anti-dumping (AD) duties on Chinese plate products. The proposed provisional tariff is expected to come into effect in February of the following year. This investigation follows an application by Hyundai Steel, which claims a dumping margin of 25.89% on the Chinese products.
Background of the Investigation
The anti-dumping investigation began on October 4 after Hyundai Steel raised concerns about dumping practices in Chinese plate exports. The products under scrutiny are classified under the following Korean HS codes: 7208.51.1000, 7208.51.9000, 7208.52.1000, 7208.52.9000, 7225.40.9010, 7225.40.9091, and 7225.40.9099. These are primarily medium and thick plates.
Export Trends
From January to October, China exported 996,986 tonnes of the specified plate products to South Korea, which marks a 3.8% decrease year-on-year. However, China’s market share has risen by 6%, reaching 62.7% of South Korea’s plate imports. Despite the overall decline in volume, the Chinese share of the South Korean market has increased.
This potential tariff is significant, as it could affect trade relations and the pricing of Chinese plate products in South Korea, especially considering the strong market share China holds.
