South Korea's Trade Commission has ruled that hot-rolled steel plates imported from China have caused injury to the domestic industry. As a result, Chinese exporters who do not agree to a price increase will face anti-dumping duties of 27.91% to 34.10% for the next five years.

The decision was made on August 28, following an investigation into a complaint filed by Hyundai Steel. Nine Chinese exporters, including Baosteel and Jiangsu Shagang, have proposed to raise their export prices in a five-year price undertaking agreement, while others will be subject to the new AD duties.

This agreement excludes imports for bonded areas, such as those for shipyards, balancing protection for local industries with a stable supply for demand sectors.

The products involved are carbon steel and other alloy steel hot-rolled thick plates with a thickness of 4.75 mm or more and a width of 600 mm or more, classified under HS codes 7208.51.1000, 7208.51.9000, 7208.52.1000, 7208.52.9000, 7225.40.9010, 7225.40.9091, and 7225.40.9099. These products are mainly used in industries such as shipbuilding, construction, and heavy equipment.