EU imposes anti-dumping duty on Chinese cast iron products
The Dollar Business Bureau
Chinese cast iron products have been imposed anti-dumping duties as high as 42.8% by the European Commission.
An eight-month investigation by the Commission confirmed that China dumped its hot-rolled flat steel at cheap prices in the European market, causing losses to several EU steel producers.
The European Commission acted on behalf of the 28 countries in EU in imposing the ADD, which was triggered by a complaint filed by Fondatel Lecompte SA, Ulefos Niemisen Valimo Oy Ltd, Saint-Gobain PAM SA, Fonderies Dechaumont SA, Heinrich Meier Eisengießerei GmbH & Co KG, Saint-Gobain Construction Products UK Ltd and Fundiciones de Odena SA. This group produces nearly 40% of the EU-bloc’s cast iron products.
With regard to reports of Indian steel too being dumped in the EU markets, the Commission’s executive body said, it is yet to detect dumping by India and the investigation is likely to continue until definite results came out.
The Commission in its Official Journal on Thursday said, “Prices of dumped imports from the People’s Republic of China significantly undercut Union industry prices during the investigation period with undercutting margins ranging from 35.4% to 42.7% leading to decreasing market shares and profits for the Union industry.” The tariffs ranging between 25.3% to 42.8% is likely to affect Handan Alloy Casting Co., Ltd, Shijiazhuang Transun Metal Products Co Ltd and Botou Lisheng Casting Industry Co Ltd and other Chinese steel producers.