S. Korea to extend anti-dumping tariffs on steel bars from Japan, Spain, India

South Korea's trade commission has decided to extend anti-dumping tariffs on stainless steel bars from Japan, Spain, and India and for another three years.

Under the preliminary decision, the commission will request that the finance ministry slap tariffs of 3.51 percent to 15.39 percent.

The South Korean market for the products was estimated in 2018 at around 400 billion won or 100,000 tons.

South Korea started slapping anti-dumping tariffs on stainless steel bars from the three countries in July 2004.

The finance ministry will finalize its decision before the end of January 2021.

Stainless steel bars are used in manufacturing industrial goods, including auto parts, construction materials, and medical instruments.