Posted on 09 Feb 2023
The EU has launched a review of the anti-dumping measures applicable to imports of certain corrosion-resistant steel originating from China, including hot-dip galvanised (HDG) coils.
A request was submitted on 8 November by the European steel association Eurofer for the review to be launched, on the grounds that if the measures were allowed to expire the likelihood of a recurrence of dumping and subsequent harm to EU industry was high.
The existing duty ranges from 17.2-27.9pc, depending on the mill. Auto-grade material under the 4B quota is currently excludeds. In the first three quarters of last year, the Chinese 4B quota was filled within four days of its refresh, or within one day on two occasions.
In the first 11 months of 2022, the EU imported 666,741t of HDG from China, up by 23pc from the same period in 2021. The duties were imposed originally in late 2017, with the bloc importing just under 1.9mn t that year from China.
Should the measures be allowed to lapse, current imports of HDG from China to the EU are likely to increase due to surplus supply of steel in China amid post Covid-19 developments, measures imposed from third countries against imports of HDG from China, and decreasing freight costs from China to the EU, according to Eurofer.
Eurofer also provided evidence that China is currently dumping products in other markets at much lower prices than those prevailing in the EU, demonstrating that the bloc would be an attractive market for arbitrage opportunities for Chinese producers.
The investigation will cover 1 January 2022-31 December 2022, also including an examination of trends from 1 January 2019 to the end of the review period. Interested parties have 37 days from today to comment on the request and initiation of the investigation, or within 15 days to request a hearing.
The investigation will be concluded within 12 months and certainly no later than 15 months from the date of the initiation notice.
Source:Argus Media
