The European Commission has imposed definitive anti-dumping duties on hot-rolled coils of Chinese origin, ranging from 18.1% to 35.9%, the EC said in a report published Thursday.
Jiangsu Shagang Group received a 35.9% duty rate, whereas Bengang Steel Plates is now subject to a 28.1 rate and Hesteel Group 18.1%. All other cooperating companies received a 27.3% rate, and other Chinese companies received 35.9%.
While Chinese imports into the EU showed a decrease last year, the drop was merely resulting from the investigation announcement and import volumes remained at a high level, the EC said.
Chinese imports amounted to 773,275 mt in the period of January-June 2016, lower than the prior six month period July to December 2015 when levels reached 806,914 mt, but still higher year on year. The decrease in volumes in the second half of 2016 was due to the anticipated announcement of preliminary duties in October last year. “The decrease of Chinese import volumes after July 2016 can be explained by the chilling effect of the registration request and the knowledge of intention of the Commission to decide on provisional measures within 8 months of initiation,” the EC said.
The EC further said decreasing Chinese imports were likely to be temporary “and such trend would revert if no measures are imposed.”
The investigation found Chinese import prices increased from July last year, but that this was on the back of rising raw material costs and parallel to import prices from other countries. “Hence, despite the increased in price levels, the enormous price depression remains, which puts the EU industry into an unsustainable position.”
“Eurofer welcomes that this case has come to positive a conclusion, with definitive duties of up to 35.9%, augmented from the 22.6% found at the provisional measures stage,” the European steel producers’ association told S&P Global Plats. The preliminary duty rate was at 13.2% to 22.6%.
The EC is also investigating imports of hot-rolled coils from Brazil, Iran, Russia, Serbia and Ukraine in a separate case.
Laura Varriale, PLATTS
|Company||Dumping margin||Duty rate|
|Bengang Steel Plates Co., Ltd||97.3%||28.1%|
|Hesteel Group Co., Ltd||95.5%||18.1%|
|Jiangsu Shagang Group||106.9%||35.9%|
|Other cooperating companies||100.5%||27.3%|
|All other companies||106.9%||35.9%|