Steel Dialogue of Japan, South Korea

Japanese and South Korean delegations of steel industry and government held No.13 bilateral steel dialogue on Thursday in Tokyo. They exchanged the view on market and trade issues. The trade partners agreed the dialogue to understand each market to avoid potential trade conflict.

South Korean argued the steel makers’ severe profitability due to high level import from Japan especially for hot rolled coil and plate while South Korean makers can meet domestic demand after the expansion. South Korean also said stainless hot coil import is also high from Japan. Japanese industry said the makers are careful on South Korean market but they have to meet requirement from long term users while Japanese makers focus on high grade products.

Japanese industry showed concern Indonesian new mining law could impact on nickel ore supply for Japanese ferronickel production and such export restriction could expand to other countries. South Korean industry also showed interest on such resource nationalism. They agreed for cooperation for such trade issue.

South Korean explained Korea Iron & Steel Association (KOSA) launched special committee to watch import from Japan, China and other countries and prepare for potential legal actions under domestic law and World Trade Organization agreement. South Korean industry emphasized they try to avoid trade conflict through dialogue with Japan and other countries.