EU Parliament approves new anti-dumping methodology

The European Parliament Wednesday agreed changes to anti-dumping and anti-subsidy legislation that will aid proof of dumping against third-countries.

Existing regulation has been amended to ensure that when costs are artificially low, information from other representative markets, or from published reference prices, can be used in dumping investigations. Dumping can only be proved where export prices are below domestic levels, but many actors – including Eurofer – have argued that certain dumping cases were hindered by distortions to domestic prices and costs; China being a prime example.

“Costs are normally calculated on the basis of records kept by the exporter and producer under investigation. However, where there are direct or indirect significant distortions in the exporting country with the consequence that costs reflected in the records of the party concerned are artificially low, such costs may be adjusted or established on any reasonable basis,” according to the amended regulation.

Where investigated imports come from non-members of the World Trade Organization, “normal value should be determined on the basis of the price or constructed value in an appropriate representative country, or the price from such a third country to other countries, including the Union, or where those are not possible, on any other reasonable basis, including the price actually paid or payable in the Union for the like product,” the amended regulation said.

European steel producers’ association Eurofer said the amendment “arose from the EU’s move away from having a specific list of ‘non-market’ economies for which a ‘non-standard’ methodology automatically applied.”

“It is important to ensure that European businesses are shielded sufficiently from dumping from countries that significantly distort markets.

“Now that new methodology has been agreed by the EU, it must actually work in defending European jobs and industry against dumping from countries with significant distortions – as the US’ approach does,” it said.

Steel market sources have speculated the amendments to the methodology could make it easier to prove dumping. Speaking at a Eurometal event in Ghent, Belgium, earlier this year, Simone Jordan, chairwoman of ISTA, said Indian exporters could find themselves under pressure following the change. India’s domestic iron ore prices have typically been below levels into China, the world’s largest consumer, and ensuring sufficient supply for domestic Indian producers has been a political issue in recent years.

“Is India now on the EU’s radar? I thought they would be safe because they have Market Economy Status, but clearly that could be trickier now,” Jordan said at the event in Belgium.

India has ramped up shipments into Europe exponentially this year. Hot rolled coil shipment over January-September reached 936,000 mt – second behind Turkey’s 1.5 million mt – up from 161,000 mt in the same period of 2016.

Annalisa Villa and Colin Richardson, SBB DAILY BRIEFING

EUROMETAL to add Turkish companies to member base

European Steel association EUROMETAL announced it has expanded its member base to include Turkish steel stockholding companies and service centers.

“In order to benefit from the full range of support services EUROMETAL offers to its members, companies from Turkish steel distribution & SSC business have now decided to join Eurometal,” the association said Wednesday.

Three Turkish companies have joined the organization so far. As one of the biggest stockholding distribution companies in Turkey, SOYBAS sells 150,000 mt of flat, longs and tubular carbon steel products, operating its own steel service center (SSC) and structural steel tube production. Also accessing membership is Yametas, a Turkish SSC and steel tube producers for all strip mill products and Gokmetal, an SSC for flat products.

EUROMETAL’s decision was made amid increasing relevance of the Turkish market for European steel companies. The Turkish steel market has grown significantly in the last two decades, reaching a consumption of 34 million mt in 2016, compared with 41 million mt in Germany and 24 million mt in Italy as both production and steel distribution and servicing has developed strongly. European coil producers are large sellers into Turkey.

According to the association, membership is constituted not only by national associations, but also “by steel distribution, trade and SSC companies having cross border interests in European steel, tubes and metal markets.”

Pascal Dick, SBB DAILY BRIEFING

Eurometal expands its membership to Turkey

European distributors’ association EUROMETAL tells Kallanish that three Turkish companies have now joined its ranks. Steel service centre operations Soybas, Yametas and Gokmetal are now full members of the association, EUROMETAL confirms.

During recent decades, the Turkish steel market has been growing significantly, EUROMETAL says. In 2016 the country’s apparent steel consumption was 34 million tonnes, compared with 41mt for Germany and 24mt of steel for Italy, the two largest steel markets in EU.

At the same time, an important and diversified steel distribution & SSC sector has developed in Turkey, the association continues. The aim of this is to optimise the supply chains to steel end users in construction, automotive, white goods and other general industry sectors.

“In order to benefit from the full range of support services EUROMETAL offers to its members, companies from Turkish steel distribution & SSC business have now decided to join,” the association adds in a statement sent to Kallanish.

EUROMETAL director general Georges Kirps will be speaking at the Kallanish Europe Steel Markets 2017 conference in Madrid on 14-15 November. His keynote speech in the session on European supply issues is entitled, ‘The European distribution sector and its future challenges’.

Kallanish.com

Mit der Distribution den Wandel auf Europas Stahlmarkt begleiten

Soybas Now First Turkish Member in Eurometal

SOYBAS, founded in 1961 is one of the oldest and biggest steel trading and stockiest company in Turkey.
Thanks to our strong and long-term relations with all major Turkey.  Steel producers, we will be glad to offer you the best prices and delivery terms for all your steel inquiries.

Besides our international trading activities, SOYBAS also keeps stock of over 15,000 tons of all types of flat-long-tubular carbon steel products in its Gebze, Turkey stockyard and is one of the top steel distributors in the local Turkish market, with over 150,000mtons annual sales.