Hyundai Steel Files Anti-Dumping Complaint Against Chinese Thick Plates… Government to Decide on Investigation Within 2 Months

Hyundai Steel recently filed an anti-dumping complaint with the Ministry of Trade, Industry, and Energy, citing damage caused by the low-priced exports of Chinese thick plates.

This complaint is the result of long-standing grievances within the domestic steel industry, with claims that aggressive low-priced exports from Chinese companies are significantly impacting the domestic market.

According to the Korea International Trade Association, from January to April this year, China’s steel exports increased by 15.1% compared to the same period last year, while export prices fell by 19.4%.

This strategy is analyzed as an attempt to compensate for reduced internal demand due to the slump in the Chinese real estate market by boosting overseas exports.

Last year, the import volume of Chinese steel products amounted to 8.73 million tons, a 29.2% increase from the previous year. However, domestic distribution prices dropped significantly, falling to the 700,000 KRW per ton range, which is more than 100,000 KRW cheaper than Korean steel products.

Hyundai Steel decided to file the anti-dumping complaint, stating that with about 15% of its sales coming from thick plates, the influx of low-priced Chinese thick plates has caused significant damage.

Thick plates, which are steel plates with a thickness of 6mm or more, are an important steel product used primarily in shipbuilding and construction. This complaint was filed solely by Hyundai Steel, with other major steel companies such as POSCO and Dongkuk Steel not participating. However, it is known that other companies are also considering various response measures.

The Ministry of Trade, Industry, and Energy has received Hyundai Steel’s complaint and will conduct a preliminary review for about two months before deciding whether to launch a formal investigation.

If a formal investigation is initiated, it will proceed through preliminary and final investigation stages before a final conclusion is reached. If anti-dumping measures are confirmed, additional tariffs on Chinese thick plates and other actions may be implemented.

The steel industry has responded positively, viewing Hyundai Steel’s complaint as an important first step in protecting the domestic market.

An industry representative emphasized, “Domestic steel companies are struggling to operate their businesses normally due to the influx of low-priced Chinese thick plates,” and stressed, “Active government intervention is needed.”

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