Trade Commission Issues Preliminary Anti-Dumping Ruling on Stainless Steel from China, Indonesia, and Taiwan

Preliminary Dumping Rates: 49.04% for Chinese Products, 29.68% for Indonesian Products, 9.2~9.51% for Taiwanese Products
Final Decision on Anti-Dumping Tariff Imposition to be Made in July After Main Investigation

[Sejong=Asia Economy Reporter Kwon Haeyoung] The Trade Commission of the Ministry of Trade, Industry and Energy has decided to initiate an anti-dumping investigation on stainless steel flat-rolled products from China, Indonesia, and Taiwan, citing significant domestic industry damage caused by dumped imports.

On the 18th, the Trade Commission held its 409th meeting and issued a preliminary affirmative determination on anti-dumping measures for these products. This followed a request from POSCO for an investigation necessary to impose anti-dumping duties, claiming that stainless steel flat-rolled products from these countries were being dumped.

The Trade Commission preliminarily determined that these products are being imported below normal value and that the domestic industry producing like products has suffered substantial injury. The preliminary dumping margins were calculated as 49.04% for China, 29.68% for Indonesia, and 9.2~9.51% for Taiwan.

The Trade Commission explained, "During the injury investigation period from 2017 to 2019, import volumes from the investigated supplying countries increased and their domestic market share also rose," adding, "This caused damage such as decreased sales volume, reduced market share, and profit decline for domestic like products."

Accordingly, the Trade Commission plans to conduct a full investigation over the next five months, including on-site inspections domestically and abroad and public hearings, before making a final decision on whether to impose anti-dumping duties. The final determination is expected around July.

Stainless steel flat-rolled products are used as key materials in machinery parts or industrial goods and various consumer products such as automobiles, shipbuilding, chemical plants, aerospace, electronics and home appliances, and tableware and kitchenware. As of 2019, the domestic market size is approximately 3 to 4 trillion KRW (around 2 million tons). The market share is about 40% domestic products, about 40% investigated products, and less than 10% other domestic products.

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