Hanoi (VNS/VNA) -The Korea Trade Commission (KTC) has extended its anti-dumping investigationagainst ferroalloy imported from Vietnam, Ukraine and India and will arrive ata final decision on October 1 this year instead of August 1 as per the previousdeadline.
The information was revealed by the Vietnam Trade Office in the Republic ofKorea (RoK).
The items under investigation are imported ferro-silico-manganese productsunder the HS code: 7202.30.0000.
On December 7, 2016, the KTC initiated an anti-dumping investigation onferroalloy imported from Vietnam, Ukraine and India at the request of companiesDongbu Metal, Simpac Metal, Simpac Metalloy and Taekyung Industrial.
Earlier, an investigation into dumping and material injury issues had beenscheduled from July 1, 2015, to June 30, 2016, and from January 1, 2013, toJune 30, 2016, respectively.
After four months of investigations, the KTC arrived at a preliminaryconclusion that there was enough evidence of anti-dumping practices andsubstantial damages to the Korean industry.
The KTC said it would recommend that the finance ministry levy punitive dutiesof 6.08 - 32.32 percent on ferro-silico-manganese products imported from thesethree countries, for underselling and causing damage to the local industry.
The tax rate for Vietnam is expected to be 7.48 percent.
The alloy made of iron, silicon and manganese is a key ingredient formanufacturing steel, the Korean antitrust agency said.
The Korean market for the alloy was estimated at 230,000 tonnes in 2015, worth250 billion won (220 million USD). Products imported from Vietnam, India andUkraine accounted for nearly 40 percent of the market.
This June, the KTC conducted on-site investigations of Vietnamese enterprises.-VNA
The information was revealed by the Vietnam Trade Office in the Republic ofKorea (RoK).
The items under investigation are imported ferro-silico-manganese productsunder the HS code: 7202.30.0000.
On December 7, 2016, the KTC initiated an anti-dumping investigation onferroalloy imported from Vietnam, Ukraine and India at the request of companiesDongbu Metal, Simpac Metal, Simpac Metalloy and Taekyung Industrial.
Earlier, an investigation into dumping and material injury issues had beenscheduled from July 1, 2015, to June 30, 2016, and from January 1, 2013, toJune 30, 2016, respectively.
After four months of investigations, the KTC arrived at a preliminaryconclusion that there was enough evidence of anti-dumping practices andsubstantial damages to the Korean industry.
The KTC said it would recommend that the finance ministry levy punitive dutiesof 6.08 - 32.32 percent on ferro-silico-manganese products imported from thesethree countries, for underselling and causing damage to the local industry.
The tax rate for Vietnam is expected to be 7.48 percent.
The alloy made of iron, silicon and manganese is a key ingredient formanufacturing steel, the Korean antitrust agency said.
The Korean market for the alloy was estimated at 230,000 tonnes in 2015, worth250 billion won (220 million USD). Products imported from Vietnam, India andUkraine accounted for nearly 40 percent of the market.
This June, the KTC conducted on-site investigations of Vietnamese enterprises.-VNA
VNA
