South Korean steelmaker Hyundai Steel has announced that it is planning to request an anti-dumping investigation against the Chinese mills which have substantially undercut Hyundai's market share with low-priced products.
The company said that they will in particular request an anti-dumping investigation regarding H-
beams, which are widely used in the
construction of buildings and bridges.
While Chinese firms exported 62,808 tons of H-
beams in 2004, the amount jumped 257 percent to 224,050 tons last year.
During the first nine months of this year, Korean imports of H-
beams stood at 601,982 tons - an approximate 4.5-fold increase compared to the same period of last year.
As a result, the market share of Chinese H-
beams in South
Korea increased to more than 20 percent, threatening business leader Hyundai Steel, which accounts for roughly half of the demand in the Korean market.