The UK has decided to immediately suspend trade remedy measures on hot rolled flat and coil steel imports from Ukraine for nine months, meaning these will not face a higher trade remedy rate, the government said Aug. 31.
The UK’s Trade Remedies Authority had assessed whether the rate of around GBP50/mt ($58.18/mt) should be removed after the Ukraine government asked the UK government to investigate the issue.
The TRA began the investigation on whether to suspend antidumping measures for Ukraine in June and looked into whether there had been a change in market conditions and if the effect was temporary.
It found that the conditions had been met after Russia’s invasion of Ukraine in March and it also found no evidence that suspending the tariffs on Ukraine exports would cause injury to UK producers, it said.
Platts assessed weekly DDP West Midlands UK hot-rolled coil at GBP685/mt on Aug. 26, down 17.5% since the start of 2022, according to S&P Global Commodity Insights data.
The suspension will run for nine-month period, which is the maximum duration allowed for an initial suspension under UK legislation, but can be extended thereafter if required, the government said.
In June, the TRA also started a review into antidumping measures on hot rolled flat and coiled steel from Ukraine, Russia, Brazil and Iran, as well as into anti-subsidy measures on imports of stainless steel bars and rods from India.
— Jacqueline Holman