South Korea intended to levy anti-dumping duties on Taiwanese stainless steel bar. In this regard, GMTC Gloria Material Technology Corp. (GMTC), one of the steel manufacturers in Taiwan, said that its proportion of stainless steel products exported to South Korea was not high, and has dropped to less than 50 tons per month. Therefore, the impact was very low to the company. During the investigation, GMTC didn't participate in the first phase of the questionnaire reply.
The Korea Trade Commission (KTC) conducted a dumping investigation on Taiwanese stainless steel bars in May this year, and recommended that the Ministry of Finance of the Republic of Korea propose a temporary anti-dumping duty on Taiwanese exports to South Korea. The initial anti-dumping tax rate was 18.56%, and the case will be finalized next year.
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