South Korea's trade watchdog on Thursday recommended the government accept a proposal from Chinese steel companies to raise export prices of their hot-rolled carbon and alloy steel plates over the next five years as part of anti-dumping remedies.
The Korea Trade Commission (KTC) said it has decided to make such a recommendation to the Ministry of Economy and Finance for nine Chinese steel exporters, including Baoshan Iron & Steel Co. and Jiangsu Shagang Steel Co, reports news agency.
The companies have proposed a price undertaking after the KTC reached a preliminary decision in February to impose anti-dumping duties, having determined that the exporters inflicted damage on the Korean steel industry by selling their products here at excessively low prices.