This South Korean anti-dumping investigation involves hot-rolled and alloy medium and thick plates. According to Chinese customs data, the number of products involved in China’s exports to South Korea in recent years is about 1.3-1.4 million tons. The impact of the anti-dumping investigation may be limited in the short term, but in the long run, since Vietnam and South Korea, China’s major export countries, have launched anti-dumping investigations on some steel products against China, China’s steel export resistance may increase.

China HS: 7208 export volume

China’s alloy medium and thick plate export volume

On October 4, 2024, the Korea Trade Commission of the Ministry of Trade, Industry and Energy of South Korea officially announced that it would launch an anti-dumping investigation on China’s hot-rolled or alloy medium and thick plates (Korean tax numbers 7208.51.1000, 7208.51.9000, 7208.52.1000, 7208.52.9000, 7225.40.9010, 7225.40.9091, 7225.40.9099). The main target products of this survey are hot-rolled carbon steel or alloy steel medium and thick plates with a thickness of not less than 4.75 mm.

South Korea has always been a major exporter of Chinese steel products. In recent years, it has ranked among the top three export destinations of China. In 2023, China exported 8.1263 million tons of steel products to South Korea, up 33% year-on-year, ranking second among China’s steel export destinations, accounting for 10% of China’s total steel exports.

Current status of China-South Korea hot-rolled wide strip steel and alloy medium and thick plates trade

From the data in the figure below, it can be seen that in terms of hot-rolled wide strip steel, in 2023, China exported 5.29 million tons of alloy steel medium and thick plates. From January to August 2024, China exported 3.3562 million tons of alloy steel medium and thick plates, down 5% year-on-year, and the export volume is in a downward channel.
From the data from January to August 2024, South Korea currently ranks second among China’s hot-rolled wide strip steel export destinations.