Industrial Protection Measures… Conclusion within 50 Days
Thick Plates, Used in Shipbuilding and Construction Steel,
Hyundai Steel Dangjin Plant thick plate production. Provided by Hyundai Steel,
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, ‘The government has decided to impose a provisional anti-dumping duty of up to 38% on Chinese steel thick plates. This is an active trade remedy policy to protect domestic industries as China’s aggressive low-price exports emerge as a factor of economic instability. The announcement is seen as offering partial relief to the steel industry, which has been grappling with the ‘double burden’ of cheap Chinese imports and the 25% tariff pressure from the U.S.’,
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, ‘On the 20th, the Ministry of Trade, Industry and Energy’s Trade Commission held its 457th meeting and announced, “We have decided to recommend to the Minister of Strategy and Finance a provisional anti-dumping duty of 27.91~38.02% on hot rolled thick plates based on preliminary findings.” A provisional anti-dumping duty is an arbitrary duty imposed to prevent domestic industry damage until a final conclusion of the anti-dumping investigation is drawn. The Ministry of Strategy and Finance will make a final decision on the provisional anti-dumping duty within a maximum of 50 days. The provisional measure can be applied for a maximum of four months and can be extended for an additional two months.’,
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, ‘ MobileAdNew center ‘, ‘The thick plate in question is a steel plate with a thickness of 6mm or more, primarily used for shipbuilding and construction. Currently, only a basic tariff rate of 8% is imposed on Chinese thick plates. While the price of Korean thick plates is around 900,000 won per ton, Chinese thick plates are more than 20% cheaper. According to the Korea Iron & Steel Association, imports of Chinese thick plates reached 1,179,328 tons last year, a 5% increase from the previous year’s 1,122,774 tons, marking a record high.’,
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, ‘Domestic steel companies negotiating thick plate prices with shipbuilders find their position weakened by the influx of cheap Chinese products.’,
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, ‘In July last year, Hyundai Steel filed a complaint with the Trade Commission claiming damage from low-priced Chinese thick plates. The Trade Commission launched a preliminary investigation last October. The commission stated, “There is sufficient evidence for a preliminary determination of dumping and substantial damage to the domestic industry due to dumped imports.”\n’