Brussels, 16/01/2013 (Agence Europe) - The European Commission believes that compensatory anti-dumping duty of up to 50% on Chinese exports of organic coated steel is in order.
A Commission anti-dumping investigation, launched further to a complaint brought by European steel producers within the association Eurofer, concluded that China grants illegal subsidies to its steel makers. The European executive is now waiting for the member states to approve the levying of deterrent customs duty, according to the Financial Times of 14 January.
The Commission is putting the finishing touches to its investigations into alleged subsidies and dumping practices in the organic coated steel sector. In September 2012, the EU put in place a temporary duty on imported products, varying between 12.3% and 57.8%, taking the view that the Chinese producers were selling below market prices. The Commission now believes that duty of up to 52% is called for in order to compensate for these public subsidies to Chinese producers.
The proposal for a definitive anti-dumping duty, valid for a period of five years, will be put before the member states on 30 January, with the vote scheduled for between now and mid-March.
European steel companies produced 4.3 million tonnes of organic coated steel in 2011. The Commission put imports of Chinese steel over the period covered by its investigation at 563 million euros. Chinese steel's share of the European market has climbed to 13.6%. (EH/transl.fl)