Trade Commission of Ministry of Knowledge Economy, South Korea, announced on February 23rd the commission offered anti dumping tax imposition on Japanese stainless steel plate (more than 8 millimeters thick) at 13.17% for 5 years. Ministry is likely to make a final decision in early Mach. Japanese major makers are Nippon Steel & Sumikin Stainless Steel, JFE Steel, and Nippon Yakin Kogyo. South Korea’s stainless plate market is about 400 billion won (29 billion yen) per year.
Special Steel Association of Japan commented on Friday Japanese export products is mainly high quality stainless plate and the products don’t impact South Korean stainless industry. Japanese stainless industry appealed the commission should except the products that South Korean makers can’t produce from anti damping judgment but the commission didn’t refer to the exception. Association insisted Japanese stainless steel industry has contributed to South Korean manufacturing industry, shipbuilding or heavy industry, and anti damping judgment should impact high grade stainless users in South Korea.Japan Steel Scrap Composite Prices (Sangyo Press)
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