South Korea launches AD investigation into stainless steel imports from 4 nations

South Korea's Ministry of Trade, Industry and Energy has announced the commencement of an anti-dumping duty (AD) investigation into stainless steel products imported from China, Indonesia, Taiwan, and Vietnam. This decision follows a complaint filed by South Korean steel manufacturer POSCO.

The probe will specifically target flat-rolled stainless steel from China, Indonesia, Taiwan, and cold-rolled stainless steel from Vietnam. The Korea Trade Commission (KTC) will oversee the investigation, which aims to assess whether to extend existing anti-dumping duties on these imports.

A notable aspect of the investigation is the scrutiny of cold-rolled stainless steel imports from three Vietnamese companies-Yongjin Metal Technology, TVL Joint Stock Company, and TVL Steel Production and Construction Joint Stock Company-allegedly sold at a dumping rate of 37.62%. The KTC is scheduled to issue a preliminary decision in October.

The investigation will cover the period from 1 January-31 December 2023. Should the final decision affirm the findings, anti-dumping duties ranging from 7.17% to 25.82% could be imposed on flat-rolled stainless steel from China, Indonesia, and Taiwan.

The products under investigation are classified under several Customs Statistics Position Numbers, including 7219.12.1090, 7219.13.1090, and 7220.90.9000, among others.