The Korea Trade Commission has proposed to introduce anti-dumping duties on stainless steel products from Italy and Taiwan for a period of five years.
Citing imports to the detriment of domestic industry, the commission will ask the Ministry of Strategy and Finance to impose duties of 9.47% -18.56% and 10.21% -13.74% on stainless steel rods from Taiwan and Italy. respectively.
The tariffs were determined after the commission completed an investigation that began in May 2018.
The Commerce Department reported that the domestic stainless steel market in 2017 was about 300 billion won (US $ 266.4 million), or 100,000 million tonnes, with Taiwanese and Italian products accounting for about 10%.
Walsin Lihwa Corp. in Taiwan is subject to a 9.47% tariff, while Gloria Material Technology Corp. will receive 18.56%. All other Taiwanese suppliers face 13.14% in tariffs.
For Italian manufacturers, the Acciaierie Valbruna will be charged a 10.21% tariff, while the Cogne Acciai Speciali will receive 13.74%. All other Italian producers will be hit by the 11.97% tariff.
Nine Italian stainless steel products were excluded because they are not produced by South Korean companies, such as stainless steel rods for automotive parts.
South Korea to impose anti-dumping duties on stainless steel from Italy and Taiwan
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Azovpromstal® 25 February 2019 г. 10:23 |
