According to reports, the investigation began in March this year following a complaint by Hyundai Steel, which claimed that the influx of cheap Chinese and Japanese hot-rolled steel had harmed the local steel market.
It has been proposed that preliminary anti-dumping duties on Japanese hot-rolled steel range between 31.58% and 33.57%, while Chinese products would face duties between 28.16% and 33.1%. The Ministry of Finance is expected to decide by the end of August this year whether to implement these initial anti-dumping measures.
Notably, earlier this year, South Korea imposed temporary anti-dumping tariffs on imports of thick rolled steel used in shipbuilding and construction from Chinese companies. These duties ranged between 27.91% and 38.02%.
Previously, Vietnam also imposed anti-dumping duties ranging from 23.10% to 27.83% on certain Chinese-origin hot-rolled steel products, following the expiration of similar temporary tariffs. These duties, which came into effect on July 6, will remain in place for five years. Vietnam launched its anti-dumping investigation in July 2024, following complaints from domestic producers.
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