Posted on 15 Apr 2020
The European Commission has imposed provisional anti-dumping duties on some stainless steel products from China, Indonesia and Taiwan, according to the official EU journal, nearly eight months after launching a probe into low-price imports.
The duties on hot-rolled stainless steel sheets and coils include a rate of 17% on shipments from two Indonesian subsidiaries of Chinese stainless steel maker Tsingshan Holding Group, whose rapid expansion and low production costs in the southeast Asian country have left EU producers fretting over market share.
Tsingshan's Chinese rival Shanxi Taigang Stainless Steel Co Ltd and three affiliates were hit with the highest rate of 18.9%, while other mainland China firms saw rates of 14.5% and 17.4%. The Taiwan duties were lower, ranging from 6% to 7.5%.
It is expected the duties will restore fair trading conditions, end the price depression and allow the EU industry to recover, said the regulation dated April 7, noting price pressure had had a serious impact on profitability.
Source:Reuters
