Trade Commission Extends Anti-Dumping Duties on Japanese and Indian Stainless Steel Bars for 3 More Years

Kang Myung-su, Standing Commissioner of the Trade Commission, Ministry of Trade, Industry and Energy. / Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Moon Chaeseok] The Trade Commission of the Ministry of Trade, Industry and Energy announced on the 13th that it will extend the anti-dumping duties on stainless steel bars from Japan, India, and Spain for another three years.

The Trade Commission held its 406th meeting on the same day and concluded that if the anti-dumping duties on these products are lifted, domestic industry damage could continue. Therefore, it decided to recommend to the Minister of Strategy and Finance to impose anti-dumping duties ranging from 3.51% to 15.39% for three years.

Stainless steel bars are widely used in advanced precision industries, automotive parts, chemical machinery, and construction materials. As of 2018, the domestic market size was approximately 400 billion KRW (about 100,000 tons).

Anti-dumping duties have been imposed on stainless steel bars from Japan, India, and Spain since July 2004.

Once the final ruling is notified to the Minister of Strategy and Finance, a decision on whether to extend the anti-dumping duties will be made within 12 months from the investigation start date (January 23 of this year).

On the same day, the Trade Commission also held a public hearing for the sunset review of anti-dumping duties on Chinese H-beams and Chinese offset printing plates. Based on the results of the public hearing and other factors, the decision on whether to extend the duties will be made in January next year.

This content was produced with the assistance of AI translation services.