United States (U.S) steelmakers have filed anti-dumping trade suits against South Korea including seven other nations on Cold Rolled products.
As per Korea International Trade Association (KITA), United States based major steelmakers like AK Steel including four others, have filed anti-dumping and countervailing duty petitions on Cold Rolled products against South Korea, Brazil, China, India, Japan, Netherlands, Russia and United Kingdom.
The U.S International Trade Commission and the Department of Commerce have filed the petitions claiming that the unfairly imported steel products are hampering their businesses. Furthermore, the steelmakers from these eight nations have been receiving significant subsidies from their respective governments.
KITA also said that the petitions are called for anti-dumping duties ranging between 93.32% and 176.13% to be imposed on the companies from these eight countries.
8 Counties Dumping Margins Alleged
| Countries | Dumping Margins Alleged | Subsidy Programs in Countries |
| Brazil | 50-60% | 28 |
| China | 266% | 46 |
| India | 42% | 47 |
| Japan | 82-83% | – |
| South Korea | 93-176% | 45 |
| Netherlands | 47-136% | – |
| Russia | 69-320% | 14 |
| United Kingdom | 47-84% | – |
POSCO and Hyundai Hysco are among some of the South Korean exporters of the cited steel goods. It has yet to be decided, which of the companies here will be subject to an investigation.
The call for an investigation comes over two years post the U.S decided to end anti-dumping and countervailing charges on South Korean steelmakers.
In 2014, South Korea had exported 258,000 MT CRC products to U.S at USD 880,000/MT, as per media source.
Leave a Reply