Wirenet Image Band
wirenet.org mobile image band

Wire Journal News

June 7, 2018

South Korean trade body takes steps to impose AD duties on Chinese steel wire

Written by
Rate this item
(0 votes)

South Korea’s trade commission has decided to impose anti-dumping duties on steel wire from China, saying the cheap imports hurt the domestic industry.

Per published reports, the Korea Trade Commission said it will make a recommendation to the finance ministry the levying of 8.6% duties on galvanized low-carbon steel wire imported from China for the next five years. South Korea’s galvanized steel wire market was valued at about US$92.7 million as of 2016, with Chinese products accounting for 70% of the market.

“The trade commission concluded that the Chinese products imported below the fair market value have caused substantial damage to the domestic industry, especially small and medium-sized companies,” the commission said in a release. The finance ministry will confirm the duties on steel wire by July 31.

Read 82 times
 

Contact us

The Wire Association Int.

71 Bradley Road, Suite 9

Madison, CT 06433-2662

P: (203) 453-2777