EU extends Chinese anti-dumping duties to two more steel products

The European Commission on Friday added two new steel products to a list of Chinese goods hit with anti-dumping duties aimed at protecting EU manufacturers against cheap imports.

European industry has come under pressure due to global overproduction in steel products, which has driven down prices. China's excess production has generated particular concern among other steel producing nations.

The European Union already has more than 100 trade defence measures in place, 15 of which relate to unfair steel product imports from China.

On Friday, the bloc provisionally added hot-rolled flat steel and heavy plates of steel to that list, arguing that both were being sold in Europe at "heavily dumped prices." The EU's executive has six months to decide whether to make the measures permanent.

Heavy steel plates imported from China will now be hit with duties ranging between 65.1 and 73.7 per cent, while the surcharge on hot-rolled flat steel will be between 13.2 and 22.6 per cent.

"This should restore the profitability of the European heavy plates' producers and prevent damage to the companies involved in the production of hot-rolled steel products," the commission said.

Heavy steel plates are used in buildings, bridges and oil platforms, among other things, while hot-rolled steel finds its way into goods ranging from energy pipelines to gas containers and ships.

Last update: Fri, 07/10/2016 - 14:12
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