Steel – Photo Deutsche Phototek
(BRUSSELS) -The European Commission decided Friday to extend anti-dumping duties on imports of Chinese steel rope and cable for another five years. Duties of 60.4 per cent have been in place since 1999.
As a result of a previous anti-circumvention investigation, products consigned from Morocco and the Republic of Korea are also subject to these duties.
The Commission’s expiry review investigation found evidence that dumping from Chinese companies would continue should measures be allowed to lapse, which would have a negative financial impact on the EU steel industry.
Steel ropes and cables have a wide variety of uses, including in the fishing, maritime, mining, forestry and constructions sector.
The EU market is estimated to be worth around EUR 500 million and the EU industry is present in at least 14 Member States, including Germany, Italy, Poland and the UK.
The steel sector is a vital industry for the European Union’s economy and occupies a central position in global value chains, providing jobs for hundreds of thousands of European citizens.
The global surplus in steel making capacity has driven down steel prices to unsustainable levels in recent years and had a damaging impact on the steel sector, as well as related industries and jobs.
The EU is using therefore the full potential of its trade defence toolbox to ensure a level-playing-field for its producers and their ability to maintain jobs in the sector.
53 measures are now in place on steel and iron products, including 27 on products coming from China.
