South Korea has decided to impose anti-dumping duties on ferroalloy imported from Vietnam, India and Ukraine, the trade commission here said Thursday.
The Korea Trade Commission said it made the final decision to levy punitive duties of 4.06-19.06 percent on ferro-silico-manganese imported from the three countries for the next five years, for underselling their products here and causing damage to the local industry.
Currently, a preliminary tariff of 6.08-32.32 percent has been imposed on the product since May 31 this year.
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(Yonhap) |
Ferro-silico-manganese, a kind of ferroalloy with iron, silicon and manganese, is a key ingredient in steelmaking.
The market for the material in South Korea was estimated at 230,000 tons in 2015, worth 250 billion won ($220 million), with imports from Vietnam, India and Ukraine accounting for nearly 40 percent.
"After a fair investigation based on the World Trade Organization agreement and related laws, the KTC has seen that the dumped imports have caused substantial damage on the South Korean steel industry," the commission said in a release. (Yonhap)
