Anti-dumping duties on Chinese steel
On the 8th of February 2018, the European Commission imposed definitive anti-dumping duties on corrosion resistant steel from China.
The investigation confirmed that Chinese producers were dumping the product on the EU market, a finding that already led to imposition of provisional duties in August 2017. The measures that will be in place for the next 5 years range from 17.2% to 27.9%. Corrosion resistant steel is mainly used in the construction industry, for mechanical engineering, in the production of welded pipes and tubes and in the manufacturing of domestic appliances.
The value of EU market for corrosion resistant steel is estimated for €4.6 billion, 20% of which has been supplied by Chinese producers. Today’s measures will counter the downward pressure on sales prices that has been causing financial problems for EU producers, based mostly in Belgium, France, Poland and the Netherlands.
The steel sector is a vital industry for the European Union’s economy and occupies a central position in global value chains, providing jobs for hundreds of thousands of European citizens. The global surplus in steelmaking capacity has driven down steel prices to unsustainable levels in recent years and had a damaging impact on the steel sector, as well as related industries and jobs.
The EU is using therefore the full potential of its trade defence toolbox to ensure a level-playing-field for its producers and their ability to maintain jobs in the sector. 53 measures are now in place on steel and iron products, including 27 on products coming from China. In March 2016 the Commission issued a Communication presenting a series of measures to support competitiveness of the EU steel industry.
Enhanced use of trade defence tools was one of the pillars of the strategy. In addition to that, the Commission engaged in the Global Forum on Steel Excess Capacity that agreed last November on an ambitious packageof concrete policy solutions to tackle the pressing issue of global overcapacity in the steel sector.The regulationis available in the EU Official Journal.
Source: European Commission
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In: Growth & Competitiveness, Trade