South Korea’s steel market pushes back on China yet harder.

Made

26 Oct 2026

Owen Bae

Market

South Korea

Outcome

Unresolved

On 23 October, South Korea’s trade commission recommended five years of anti-dumping duties of 22.34–33.67% on Chinese galvanised cold-rolled steel, alongside minimum-price agreements with ten Chinese exporters. By limiting cheap imports, the measures would allow local producers Dongkuk CM, KG Steel and SeAH CM to regain some market share, earning an additional US$65–95 million in operating profit over the next 12 months. Major South Korean conglomerates will see little impact on costs because they already source most of their steel domestically or from Japan. Chinese steel mills will be looking to dump excess capacity elsewhere — likely the Philippines and Indonesia.

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