11,134.08 TRY BIST 100 BIST 100
4.59 CNY CNY CNY
33.10 USD USD USD
36.18 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
41.69 TRY Interest Interest
85.43 USD Fossil Oil Fossil Oil
30.44 USD Silver Silver
4.41 USD Copper Copper
106.04 USD Iron Ore Iron Ore
382.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,626.72 TRY Gold (gr) Gold (gr)

Korean steel industry demands anti-dumping investigation against cheap imports from China

Low-priced Chinese imports continue this year in South Korea and the local steel industry is struggling in the face of increasing competition. Industry representatives are demanding that anti-dumping cases be filed for heavy plates and hot-rolled steel sheets coming from China.

Korean steel industry demands anti-dumping investigation against cheap imports from China

According to data from the Korean Steel Association, the number of steel products imported to Korea in April this year reached 5.427 million tons, decreasing by 2.8% compared to last year. Despite this, steel imports from China increased by 1.3% to 3.195 million tons. This caused China's share in the Korean steel market to increase from 56.5% to 58.9%.

Prices of imported products from China are 10 to 20% lower than local production. This situation negatively affects the sales of domestic steel companies at a time when steel demand is stagnant. "Low-priced products from China may lead to downsizing or even closure of domestic steel companies," a steel industry official said. said.

The local steel industry is planning to file anti-dumping cases to counter imports from China. As a first step, an anti-dumping complaint was filed for heavy plates. Heavy plate imports from China have tripled in the last two years, reaching 435,000 tons.

Industry representatives argue that anti-dumping cases should also be filed for hot-rolled steel sheets, which are heavily imported. Hot rolled steel sheets account for the largest volume of all steel products imported into Korea.

Some industry representatives argue that anti-dumping cases should not be limited to heavy plates and hot-rolled steel sheets, but that trade barriers are also necessary for other low-cost imported products such as coated steel sheets, colored steel sheets, rebars and section steels. "Trade regulations for all products are necessary to stabilize the market," an official said. said.

Low-priced Chinese imports pose a major threat to the Korean steel industry. Anti-dumping cases and other trade barriers can help protect domestic producers and ensure fair competition.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In
SteelRadar Insight - Sayı 1 (Haziran 2024)

Most read news

Transformations in the UAE rebar market

Thursday, July 18, 2024

China and Indonesia's dominance affects Vietnam's stainless steel industry

Thursday, July 18, 2024

India's steel exports plunge 36% in the first quarter of FY 2024-25

Thursday, July 18, 2024

Tosyalı to establish the world's biggest DRI plant in Libya

Thursday, July 18, 2024

Thailand's economic difficulties also affect the steel industry

Thursday, July 18, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now