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Korea to impose anti-dumping duties on Vietnamese, Indian, Ukraine ferroalloy

South Korea is set to impose anti-dumping duties on ferroalloy imported from Vietnam, India and Ukraine, the trade commission here said Friday.

After a preliminary examination, the Korea Trade Commission said it will recommend the finance ministry levy punitive duties of 6.08-32.32 percent on ferro-silico-manganese imported from the three countries, for underselling South Korean products and causing damage to the local industry.

(Yonhap)
(Yonhap)

The finance ministry is to determine whether to actually impose anti-dumping duties.

Ferro-silico-manganese, a kind of ferroalloy with iron, silicon and manganese, is a key ingredient for steelmaking.

The market for the material in South Korea is estimated at 230,000 tons in 2015 worth 250 billion won ($220 million), with products imported from Vietnam, India and Ukraine accounting for nearly 40 percent.

"The KTC concluded that there is enough evidence of anti-dumping practices and substantial damage on the South Korean industry," the commission said in a release.

The commission will make the final decision after carrying out an on-site investigation and hearings over the next three months.

The KTC said it will launch a separate anti-dumping investigation into polyethylene terephthalate films imported from the United Arab Emirates, Thailand and Taiwan.

A preliminary decision is expected to be released in July after a three-month examination, it added. (Yonhap)

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