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Biz News Korea(Eng)
Korean non-alloy steel makers hit with preliminary U.S anti-dumping duties of up to 38%
- Collected
- 2017.12.08
- Distributed
- 2017.12.11
- Source
- Go Direct
The U.S. Commerce Department on Thursday (local time) assigned preliminary anti-dumping rates of 38.16 percent on CWP manufactured by Hyundai Steel Co. and 23.17 percent duties each on Aju Besteel Co., Nexteel, and SeAH Steel Corp. Husteel was levied with punitive rate of 8.18 percent.
The U.S. government has regularly imposed anti-dumping duties on the steel types from South Korea since 1991. The latest levies have been upped from last punitive rates in June.
The latest probe was on Korean CWP imports from November 2015 to October 2016.
In June, the U.S. Commerce Department hit Korean steel makers with anti-dumping duties of 1.2 percent on CWP imports from November 2014 to October 2015.
Korean steel industry estimates its total annual exports to the U.S. amount to 50,000 tons worth around 30 billion won ($27.4 million).
At 1:15 p.m. Friday, Hyundai Steel shares were down 1.17 percent at 59,000 won and SeAH Steel shares down 1.03 percent at 96,000 won. Husteel shares were up 0.32 percent at 15,900 won.
By Woo Je-yoon and Cho Jeehyun
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]