The European Commission (EU) announced the opening of an investigation into imports of hot-rolled steel from Indonesia, China, and Taiwan to the European Union (EU) following a complaint from the industry for alleged dumping practices.
In a statement released Tuesday (August 13), the EU executive reported that this investigation was opened following a complaint lodged by the European Steel Association (Eurofer), stating that “imports from these countries [to the EU] are being made at dumped prices and therefore causing injury to European producers.” EU imports of the product from around the world were worth almost 900 million euros (US$1 billion) last year, according to Eurofer.
“The product subject to this investigation is flat-rolled products of stainless steel, whether or not in coils (including products cut-to-length and narrow strip), not further worked than hot-rolled (‘the product under investigation’),” it said.
Dumping is a commercial practice consisting of selling products, goods or services at prices below their fair value. Brussels will now investigate such allegations on the basis of calculating the dumping margin for these products in relation to what is allowed under EU law, thus analyzing possible distortions in the prices of raw materials from Indonesia, China, and Taiwan.
