The European Union has begun an inquiry into stainless steel imports from China and Taiwan, threatening to impose anti-dumping tariffs on such products, Bloomberg News reported.
The investigation will try to determine if the cold-rolled flat products were “being dumped and whether the dumped imports have caused injury”, the European Commission, the EU’s executive arm in Brussels, said on Thursday.
The commission has nine months to decide whether to impose provisional anti-dumping duties for half a year and 15 months to decide whether to apply “definitive” levies for five years, the report said.
The probe stems from a May 13 complaint by the European steel industry group Eurofer on behalf of producers that account for more than a quarter of the EU’s output of stainless steel cold-rolled flat products.
Eurofer said European imports of stainless steel cold-rolled flat products from China and Taiwan rose at an “alarming rate” last year and unfairly undercut EU manufacturers.
China and Taiwan’s combined share of the EU market exceeded 14 percent in April this year and the dumping margin was 20 percent, according to Eurofer, which cited overcapacity in China and Taiwan.
Eurofer director general Gordon Moffat accused Chinese exporters of “flooding the markets which are still unprotected like the EU”.
The EU market for stainless steel cold-rolled flat products was worth about 5.5 billion euros (US$7.5 billion) in 2013, of which imports from China and Taiwan were valued at 620 million euros, Eurofer said.
In terms of volume, the EU market was 3.4 million metric tons, of which 318,000 tons were imports from China and Taiwan.
The EU had launched a similar probe into stainless steel cold-rolled flat imports from China, but it was closed in 2009 without the imposition of anti-dumping duties, the report said.
– Contact us at [email protected]