68652
Iranian steel exports, especially HRC shipments, grew nearly eightfold between 2013 and 2016 to just over 1 million tons annually, placing Iran third behind India (1.9 million tons) and China (5.7 million tons).
Iranian steel exports, especially HRC shipments, grew nearly eightfold between 2013 and 2016 to just over 1 million tons annually, placing Iran third behind India (1.9 million tons) and China (5.7 million tons).

Iranian Steel Facing EU’s Anti-Dumping Duties

Iranian Steel Facing EU’s Anti-Dumping Duties

The European Commission has decided that Iran’s exports of hot-rolled coil to the continent will be subject to definitive anti-dumping duties.
According to a preliminary document seen by Metal Bulletin, duties will also be slapped on imports from three out of four other countries involved in the investigation, namely Russia, Ukraine and Brazil.
The duties range from 5.3% to 33%. The rate determined for imports from Iran stands at 23%.
Although the EC determined during its investigation that all five countries have been trading HRC material at dumped prices, it decided to terminate the investigation into imports from Serbia because the volumes were found to be negligible, Metal Bulletin reported on Monday.
The HRC import volumes from Serbia decreased during the investigation period and now comprise a 1% share of the market.
The EC initiated the anti-dumping probe into these HRC imports on July 7 last year.
The investigation started after the European steel association, Eurofer, lodged a complaint on behalf of European producers on May 23, 2016, alleging that HRC imports from the five countries were being dumped and causing material injury to the European steel industry.
According to Eurostat’s data shared with Financial Tribune, Iranian steelmakers exported 34,140 tons of products valued at €16.3 million during the first quarter of the year.
The group and its members were startled by the data showing Iranian exports, especially HRC shipments, growing nearly eightfold between 2013 and 2016 to just over 1 million tons annually, placing Iran third behind India (1.9 million tons) and China (5.7 million tons).
As the case unfolded, it was met with resistance from independent European distributors, as the case of HRC from the mentioned countries and one case against Chinese material covered about 80-90% of total HRC imports in the EU.
As a result, a consortium of steel companies from Italy and elsewhere across Europe was established in mid-July of 2016 to maintain competition in the EU steel market. This consortium was established by Italian steel trade association Assofermet and is represented by Brussels-based law firm Van Bael & Bellis.
As a result of this opposition, the EC decided in April this year that it would not impose preliminary duties on the imports under investigation.
However, the EC is scheduled to announce its definitive decision on the anti-dumping case by October 6 this year.
The EC imposed definitive duties at the rate of 18.10-35.90% on HRC imports from China back in April.

Short URL : https://goo.gl/P5NVzR
  1. https://goo.gl/LLkrek
  • https://goo.gl/xKEZhX
  • https://goo.gl/p8QWNp
  • https://goo.gl/cdfX2V
  • https://goo.gl/E5qPUV

You can also read ...

Oberbank Deal to Trigger European Finance Flow
The chief executive of Oberbank–whose bank this week became...
Apparel tops the list of goods smuggled into Iran.
The Ministry of Industries, Mining and Trade has introduced...
SCI Puts Inflation at 8%
The goods and services Consumer Price Index in the 12-month...
Unwanted Mehr Housing Units to Be Repurposed
With the aim of bringing to a close the protracted and...
Proton Dissolves Dormant Subsidiary in Iran
Malaysian industrial group DRB-Hicom Berhad, the owner of...
VW Seeking Long-Term Cobalt Supplies in Shift to Electric Cars
Germany’s Volkswagen is moving to secure long-term supplies of...
CBI Tweaks  FTZ Rules
In its latest directive to the banking system, the Central...
Volvo XC40 Goes Small and Upscale
The 2019 Volvo XC40 combines an eye-catching exterior, a fresh...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus