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South Korea’s Ministry of Economy and Finance has announced the imposition of five-year anti-dumping duties on hot-rolled thick sheet rolls produced in China. The decision is based on the conclusion of the Korea Trade Commission that the dumped Chinese sheet has caused significant injury to the Korean industry.
Duty rates range from 27.91% to 34.10% depending on the supplier. Baoshan Iron & Steel products are subject to 27.91% duty, Jiangsu Shagang 29.62%, Hunan Valin Xiangtan 32.32%, Sino International, Xiamen ITG and other suppliers will be subject to 34.10% duty.
The product in question is a hot-rolled sheet of carbon and other alloy steel of a thickness of 4.75 mm or more and a width of 600 mm or more, not in rolls.
However, products that comply with ASME SA516-70 (134 mm or thicker), SA299 Grade B (50 mm or thicker), and SA302 Grade B and C are exempt from duties. In addition, some high-quality machinery products are exempt from duties, including steel grades NM400/500 and EN 10025-6 S890Q, S960QL, which meet certain specifications and properties.
In addition, some Chinese steel companies, including Baoshan Iron & Steel, Jiangsu Shagang and Angang Steel, were exempt from duties after reaching pricing agreements with the South Korean government.
