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Biz News Korea(Eng)
Korean carbon and alloy steel pipes hit with up to 88% anti-dumping duties from Canada
- Collected
- 2017.12.11
- Distributed
- 2017.12.12
- Source
- Go Direct
According to the Korea Trade-Investment Promotion Agency (KOTRA) on Sunday, the Canada Border Services Agency delivered its final set of anti-dumping rates ranging from 4.1 percent to 88.1 percent on carbon and alloy steel line pipe shipment from Korea from January 4, 2018 to 2022.
Husteel was levied with the lowest rate of 4.1 percent. Hyundai Steel Co., SeAH Steel Corp. and Nexteel face respective punitive duties of 47.8 percent, 27.5 percent and 12.9 percent. Other Korean steel makers were slapped with 88.1 percent dumping margin.
Carbon and alloy steel line pipes are mostly used in gravity drainage facilities, petrochemical plants and gas transmission facilities. Demand for the products is increasing in Canada as the country is expanding infrastructure projects. Import volume of carbon and alloy steel line pipe in Canada from January to October period this year rose 27.9 percent on year to $234.5 million, of which Korean imports accounted for 20.1 percent.
An official from KOTRA said the punitive charges would deal a blow to Korean steel makers that face similar actions from the United States and added that they should make efforts to lower the rate through appeals with better documented materials.
By Woo Je-yoon and Choi Mira
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]