EU Imposes Duties on Steel From China, Taiwan
08/28/2015 - The European Union officially has slapped a 25.3 percent anti-dumping duty on Chinese stainless steel cold rolled flat products, Eurofer, The European Steel Association, has announced.
“These remedial duties are crucial if the stainless steel industry is to recover from the effects of Chinese and Taiwanese dumping. The industry’s economic sustainability is vital to achieving the EU’s goal of ensuring jobs, growth and investment in Europe,” said Axel Eggert, Eurofer's director general, in a statement.
Along with the duty on Chinese-made cold rolled stainless products, the EU also is imposing a 6.8 percent duty on the same products from Taiwan.
According to Eurofer, imports of the products increased significantly between 2010 and 2013. And in 2014, Chinese imports more than doubled over the investigation period. It also said that imports from the two countries undercut EU prices by more than 10 percent.
The association said that having the duties in place is crucial to preserving the health of the EU's steel industry.
“China and Taiwan have a structural overcapacity problem, and have been using the openness of the EU market to shed their excess production. This dumping has seriously undermined the profitability of the European stainless steel industry, and has ensured that European producers have not faced a level playing field for their products,” Eggert said.
Along with the duty on Chinese-made cold rolled stainless products, the EU also is imposing a 6.8 percent duty on the same products from Taiwan.
According to Eurofer, imports of the products increased significantly between 2010 and 2013. And in 2014, Chinese imports more than doubled over the investigation period. It also said that imports from the two countries undercut EU prices by more than 10 percent.
The association said that having the duties in place is crucial to preserving the health of the EU's steel industry.
“China and Taiwan have a structural overcapacity problem, and have been using the openness of the EU market to shed their excess production. This dumping has seriously undermined the profitability of the European stainless steel industry, and has ensured that European producers have not faced a level playing field for their products,” Eggert said.
