Subscribe to RSS
UnitedStates Germany Russia India Turkey SouthAfrica England Netherlands Philippines Belgium Australia Brazil Spain China Kore

EU imposes duties on imports of Chinese organic-coated steel

The European Union said it would impose anti-dumping duties on organic-coated steel from China on Wednesday after it found Chinese firms were exporting the product at below-market prices.

An investigation into a complaint by EU steel producers’ group Eurofer found evidence of Chinese dumping in the multi-billion euro market.

A worker checks on coils of steel at a factory in Dalian

As a result the bloc set duties from 13.2 to 57.8 percent of the prices of the imported products, it said in an announcement in the European Union’s Official Journal.
Eurofer’s complaint to the European Commission last November said state subsidies to Chinese steel producers gave them an unfair advantage and damaged EU industry sales. Such complaints are an increasingly regular feature of trade relations between the European Union and China, whose leaders will hold a summit in Brussels on Thursday.

The trade group represents more than 70 percent of organic-coated steel production in the European Union, by companies including ArcelorMittal and ThyssenKrupp . Organic-coated steel sheet, made up of a metal and organic portion stuck together for added strength and durability, is used in construction and home appliances.

The European Commission, which represents EU member states in trade policy, found EU consumption of such steel decreased by 9 percent during the period under investigation while the volume of imports from China rose 49 percent. China’s market share also rose to 13.6 percent in 2011 from 8.3 percent in 2008.

ADVANTAGE

Chinese producers including Union Steel China and Zhangjiagang Panhua Steel had argued that prices they paid for raw steel did not give them an advantage, but the European Commission investigators found these input costs were significantly below international market rates.

Union Steel China is a subsidiary of Korean Dongkuk Steel’s Union Steel.

The Commission also rejected an argument by Chinese authorities it was violating a judgment by the highest EU court that firms cannot be penalised as operating under non-market economy conditions simply because the state is a shareholder.

Under EU trade law, assessing the normal value for a product – and thus determining if duties should be imposed – depends on whether a company operates in a market or non-market economy.

But the Commission said that court ruling covered state influence in corporate decision-making, while the main reason to deny market economy status to Chinese organic steel producers was that their raw material prices did not reflect market values.

 

source: Reuters

0 commentsback to post

banner

Add your comment

Nickname:
E-mail:
Website:
Comment:

*

Other articlesgo to homepage

Schaeffler va a construir una nueva planta de rodamientos en Rusia

Schaeffler va a construir una nueva planta de rodamientos en Rusia(0)

El acuerdo de inversión fue firmado en la ciudad de Ulyanovsk para el proyecto automotriz y de componentes industriales de Schaeffler. El plan es producir rodamientos de embrague para camiones y automóviles, componentes de motores y partes de la correa de transmisión, así como componentes para la industria ferroviaria en la región de Ulyanovsk. El

El mercado de rodamientos alcanzará un volumen de negocios de $ 96 mil millones para el año 2016

El mercado de rodamientos alcanzará un volumen de negocios de $ 96 mil millones para el año 2016(0)

La demanda mundial de rodamientos crecerá un 7.8 % anualmente y alcanzará los USD $96 mil millones en 2016, según los analistas de la famosa firma consultora estadounidense Freedonia Group. Según esta firma, las ventas de rodamientos no integrados (individuales), de bolas y de rodillos tienen tres cuartas partes de las ventas totales o más

China produjo 1.8 billones de rodamientos en 2012

China produjo 1.8 billones de rodamientos en 2012(0)

China ha publicado estadísticas sobre la producción de rodamientos para el año 2012. De acuerdo con estos datos, el volumen total de todos los fabricantes nacionales ascendió a 1801 mil millones de rodamientos, lo cual es 11.17 % más que en 2011. El volumen de producción para diciembre de 2012 era de 180 mil millones

RKB toma un nuevo paso importante en el mercado sudafricano

RKB toma un nuevo paso importante en el mercado sudafricano(0)

Gracias a los esfuerzos de su socio sudafricano, Drivetec Maintenance & Engineering, el Grupo RKB ha dado un paso significativo en el mercado africano al obtener un contrato de 3 años con dos importantes plantas de ArcelorMittal para el suministro de rodamientos estándar y tecnológicos. Gracias al compromiso constante con la calidad y el servicio

Schaeffler unveils concept car for India

Schaeffler unveils concept car for India(0)

Schaeffler, an automotive components manufacturer has unveiled concept car specially designed for Indian driving conditions. Featuring advanced drive train technologies which offers up to 10 per cent reduction in fuel consumption combined with better comfort and driving experience, company said. This concept car is based on subcompact hatchback and shows a range of Schaeffler solutions

read more

Contacts and information

Social networks

Most popular categories

Legal Notice

© 2012 BEARING NEWS All rights reserved.