Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
South Korea's Dongkuk Steel, one of the country's leading steel manufacturers, has announced plans to file an anti-dumping petition against Chinese color steel imports. The company claims that an influx of cheaper Chinese products is harming local manufacturers by undercutting prices and disrupting market stability.
According to Dongkuk, the price disparity is due to Chinese exporters allegedly selling color steel below fair market value. The company argues that this practice gives Chinese suppliers an unfair advantage, making it difficult for domestic producers to compete.
Industry experts say the move could lead to increased tensions in the steel trade between South Korea and China. However, Dongkuk insists that the petition is necessary to protect local businesses and maintain a level playing field in the market.
The company is expected to submit its petition to South Korea's Trade Commission, urging the government to impose anti-dumping duties on Chinese color steel imports. If approved, these duties would increase the cost of Chinese products, giving local manufacturers a competitive edge.
This development comes amid growing concerns in South Korea's steel industry about the impact of low-cost imports on domestic production and profitability. Analysts suggest that the outcome of this petition could set a precedent for other steel producers facing similar challenges.
Also Read : ArcelorMittal-Nippon Warns Import Curbs Could Disrupt India’s Steel Expansion SC Orders Bhushan Power and Steel Liquidation, Rejects JSW’s ₹19,700 Cr Plan
The coal sector has exhibited highest growth of 11.6 % (provisional) among the eight core industries...
Press Releases 01-Apr-2024
India's coal sector is united about one thing. It doesn't matter if you are a miner, trader, utility...
Renewables 29-Feb-2024
Google has pledged 25 million euros ($26.98 million) towards initiatives aimed at promoting artifici...
Europe 12-Feb-2024
In 2024, the steel industry is experiencing significant changes driven by key reforms and technologi...
Renewables 14-Aug-2024
The Passenger Vehicles (PV) segment volumes are expected to log a record 18-20% growth this fiscal a...
Automobiles 23-Jan-2024
Kalyani Steels Ltd on Wednesday said it has emerged as a successful bidder to acquire assets of Kami...
Press Releases 11-Jan-2024