Korea tend to increase Chinese steel tariffs

South Korean trade commission said 28, has proposed to impose punitive tariffs on imports from China steel sharply, to protect the domestic steel industry.

South Korean industry trade resources issued a statement said: “south Korean trade commission has decided that suggest that over the next five years, on imports of Chinese steel in 28.23% to 32.72% of anti-dumping duties, but seven Chinese steel mills, including tianjin west steel. This several steel companies agreed to take the initiative to raise price.”

South Korean trade commission made the decision, derived from the two Korean steelmakers filed a complaint, said imports from China of h-beam prices damage the interests of their own.

The committee said earlier, in 2013, Korea h-beam market size of 2.25 trillion won ($2.03 billion), the Chinese steel mills accounted for about 30%.