Steel Products
EU Wields Trade Laws Against Chinese Imports
Written by Tim Triplett
August 12, 2017
Like in the United States, steelmakers in the European Union are using their trade laws to fight back against steel imports that are unfairly subsidized by the governments in China and other countries. On Aug. 9, the European Union imposed provisional import duties of up to 28.5 percent on certain Chinese corrosion-resistant steels.
The eight-month investigation was triggered by a complaint from Eurofer, the European steel trade association, whose members include ArcelorMittal, ThyssenKrupp and Tata Steel Europe.
Jefferies, the investment bank, estimates that Chinese imports of coated, corrosion-resistant steel into the EU have surged 45 percent this year and make up 51 percent of total EU imports of the product. EU regulators found that antidumping duties were needed to help producers in at least 15 EU countries raise prices and return to profitable operations.
The EU import duties, ranging from 17.2 percent to 28.5 percent, will affect Hesteel Group, Shougang Group, Shagang Group and several other companies.
The ruling on corrosion resistant steel imports follows closely the European Commission’s June 9 decision to impose countervailing duties of up to 35.9 percent on certain hot-rolled steel imports from China.
Since March 2016, the EU has put 12 antidumping measures in place, most of them on Chinese products.
Last May, the U.S. Department of Commerce imposed antidumping and countervailing duty rates in excess of 200 percent on certain Chinese corrosion-resistant products.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products
Steel imports stabilized in March
Steel imports held steady in March, up just 1% from February according to preliminary Census data released earlier this week.
Cliffs working on a transforming solution for Weirton mill
Cleveland-Cliffs is working on a solution for its recently idled mill in Weirton, W.Va., that will address pent-up demand for transformers, increase the need for its electrical steel, and get its workforce back to work.
Zekelman to invest up to $120M at Atlas Tube subsidiary
Zekelman Industries will invest up to $120 million to expand the manufacturing capabilities and product offerings of its Atlas Tube subsidiary in Mississippi County, Ark.
Leibowitz: Unpacking Biden’s big announcements on steel and trade
Last week gave us a glimpse into the effect of the 2024 election campaign on trade policy. In a major announcement, the Biden administration pressed the US Trade Representative (USTR) to triple certain Section 301 tariffs on steel and aluminum. It’s a lot to unpack. You can find the full text of the announcement here. […]
ArcelorMittal to produce electrical steel with IRA funding
After receiving a hefty federal tax credit, ArcelorMittal plans to produce non-grain-oriented electrical steel (NOES) in Alabama. ArcelorMittal Calvert LLC received a tax credit of $280.5 million for the project, according to a Department of Energy (DOE) announcement on Friday. The Qualifying Advanced Energy Project Credit (48C) tax credit is meant to accelerate clean energy […]