South Korea Imposes Antidumping Duty on Japan Stainless Plate

Ministry of Strategy and Finance of South Korea posted notice on official journal on Thursday the government decided to impose 13.17% of antidumping duty on 8 millimeters thick or upper size of stainless plate mill products import from Japan for 5 years.

South Korean stainless steel plate maker, DK Corporation filed antidumping and injury document on Japanese stainless steel plate import to Korea Trade Commission on March 3, 2010. The commission made preliminary affirmative determination on the dumping on September 15, 2010. The commission also found the dumping through the original investigation.

South Korea made final determination on antidumping duty for import of Japanese stainless steel plate on February 23. Ministry of Strategy and Finance of South Korea imposes 13.17% anti-dumping duty on Japanese stainless plate.

Stainless steel plate is used mainly for petrochemical, liquid natural gas and desalination plant. The market in South Korea is apparently about 400 billion won per year. Nippon Steel & Sumikin Stainless Steel Corporation, Nippon Yakin Kogyo and JFE Steel have exported stainless steel plate for South Korea.