The Ministry of Trade, Industry, and Energy has launched an anti-dumping investigation into Chinese-origin HRC plates following a complaint from Hyundai Steel on July 31.
Hyundai Steel, a leading South Korean steel producer, argues that the influx of cheap Chinese steel plates has severely harmed the domestic industry. The investigation focuses on thick sheets with a thickness of 6mm or more, primarily used in shipbuilding and construction.
The domestic industry has long raised concerns about the challenges posed by low-cost Chinese steel exports. According to the Korea Iron and Steel Association, imports of Chinese steel products to Korea reached 8.73 mln tons last year, a 29.2pct increase from the previous year. From January to April this year, China’s steel exports rose by 15.1pct, while the export unit price fell by 19.4pct.
China’s overproduction and low-cost exports have significantly affected the global steel industry, prompting responses from various countries facing economic disruption.
