South Korea’s industry ministry said Friday it has expressed concern over China’s anti-dumping investigation into hot-rolled stainless steel plates, claiming locally made products do not negatively impact Chinese industry.
The move came as Beijing carries out an anti-dumping probe on imported hot-rolled stainless steel plates from South Korea, Japan, the European union and Indonesia.
The Ministry of Trade, Industry and Energy claimed South Korean products are not in competition with Chinese rivals in terms of material or price and that most of the imported volume is consumed by South Korean firms operating in China.
Thus, the ministry claimed that anti-dumping regulations will not help the Chinese industry and could potentially have an impact on regional economies in which South Korean firms operate.
Top South Korean steelmaker POSCO echoed this view, urging the Chinese government to end the anti-dumping probe as the company is not causing any damage to Asia’s top economy.
The ministry said it will utilize all necessary measures until the Chinese government delivers its final verdict, which is slated for July.