China Iron and Steel Association claims that the E.U. anti-dumping measures on imports are excessive
The association referred to safeguard measures imposed by the European Commission in 2019, when there were quota benefits made on some products, based on steel import from 2015 to 2017. “Hot-rolled stainless steel products are involved in the EU’s steel safeguard measures,” the China Iron and Steel Association (CISA) argues. The association claims the measures to be excessive.
But according to European Commission, the duties implemented in September 2019 are in line with the safeguard regulations. The aim was to improve quota benefits on some products, hot-rolled stainless steel products included. The European Union did not impose duties only on the mentioned Chinese products, but also on products imported from Taiwan or Indonesia.
The new regulation should restore fair trading conditions on European market and will help stop steel price decline, according to official document published by the European Commission. Duties with rates from 14.5% to 18.9%, are expected to affect many Chinese companies, including Tsingshan Holding Group or Taigang Stainless Steel Co. None of the companies have commented on the situation yet.