South Korea's Ministry of Trade, Industry, and Energy (MOTIE) has initiated an anti-dumping investigation into imports of hot-rolled carbon and alloy steel (HRC) coils from China and Japan. This action follows a complaint filed in December 2024 by Hyundai Steel, the nation's second-largest steel producer, alleging that these imports were priced 10-30% lower than domestic products, causing material harm to the local industry. seaisi.org+1globalsteelweb.com+1
Key Details:
Initiation of Investigation: The Korea Trade Commission (KTC) will commence the probe following the publication of relevant information in the official gazette on March 4, 2025.
Import Statistics:
- China: In 2024, China's exports of hot-rolled steel to South Korea decreased by 8.1% year-on-year, totaling 1.61 million tons, while its global exports rose by 31.1% to 27.47 million tons.
- Japan: During the first ten months of the current fiscal year (April 2024-January 2025), Japan exported 1.42 million tons of HRC to South Korea, marking a 10.6% decrease from the previous year. Despite the decline, South Korea remained Japan's largest HRC buyer, accounting for 9.9% of its total exports.
Implications:
The investigation could lead to the imposition of anti-dumping duties on HRC imports from China and Japan if evidence of unfair pricing is found. This move aims to protect South Korea's domestic steel industry from potential harm caused by underpriced imports. The outcome may also influence trade relations and pricing strategies within the regional steel market.
Stakeholders in the steel industry will closely monitor the investigation's progress and its potential impact on trade dynamics in East Asia.
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