The South Korean Ministry of Trade, Industry, and Energy's Trade Commission has proposed a temporary anti-dumping tariff of 21.62% on stainless steel sheets imported from China. The decision, announced on January 16, aims to address the negative impact of low-priced imports, particularly in shipbuilding, on the local steel industry.
The temporary anti-dumping measures can be implemented before the completion of the main investigation, providing immediate relief to the struggling steel sector. The final decision on the anti-dumping investigation is expected to be announced in June, following public hearings and on-site inspections.
The proposed measure targets stainless steel sheets with a thickness of 4.75 mm or more and a width of 600 mm or more, which are crucial in shipbuilding. The proposal reflects the need to address the challenges posed by cheaper Chinese imports that undermine local producers, despite the global boom in shipbuilding. The measure is expected to stabilize market dynamics and support local steel manufacturers.
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