South Korean flat steel tariffs to affect Asian market

South Korea has decided to conduct anti-dumping investigations against stainless flat steel from Taiwan, China and Indonesia. The conclusion was expected to be made within 10 months.

Statistics showed that South Korea's share of stainless steel sheet imports from China, Indonesia and Taiwan is comparable to South Korea's own production. South Korea has always been the largest exporter of stainless steel to China. The introduction of anti-dumping duties will affect the export of flat products from China.

However, some people believed that South Korea could provide China with some kind of exemption given the integrity of the industrial chain. Thus, the actual impact on China remains uncertain.

In addition, if an AD investigation is launched, Indonesia will be directly affected. However, China has no objection to importing billets from Indonesia. Indonesia is likely to sell billets to China and China to produce them in coils, which will increase production of flat products in China and affect the entire Asian market.

Taiwan's steel mills such as Yusco and Tang Eng have said Taiwan's exports are small and influence should be limited.