Korea to end anti-dumping tariff on Japanese stainless steel bars

22/01/2024 08:24 - 56 Views

The decision came as domestic producers of stainless steel bars, including Seah Changwon Integrated Special Steel, did not request the extension of the 15.39 percent tariff, according to the Korea Trade Commission.

Stainless steel bars are used in various areas of industries, including aviation parts, medical instruments and construction materials.

"(Since 2004), imports of Japanese stainless steel bars have significantly decreased on the back of the anti-dumping tariff," the commission said in a statement, noting that the competitiveness of the local industry also has been recovering.

Korea's imports of Japanese stainless steel bars, which came to 9,269 tons in 2003, more than halved to 4,303 tons in 2021, the government data showed.

The anti-dumping tariffs on Indian and Spanish stainless steel bars will also be lifted this week, it added.

Separate anti-dumping tariffs, ranging from 9.47 percent to 18.56 percent, imposed on Taiwanese and Italian stainless steel bars will be removed on May 16 as well.

Source:Korean Times