Russia and Turkey have quintupled the supply of some types of steel to Europe at reduced prices.
The European Commission, following the results of an anti-dumping investigation, has decided to impose duties on the supply of corrosion-resistant steel from Russia and Turkey, according to the EC’s website.
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The investigation was conducted at the request of the European Association of the Steel Industry (Eurofer), its subject is, in particular, composite steel with galvanized, magnesium, aluminum coatings.
Thus, the anti-dumping duty on metal from the Magnitogorsk Iron and Steel Works is 36.6%, the Novolipetsk Iron and Steel Works – 10.3%, Severstal – 31.3%, and all other works – 37.4%.
For the Turkish asset of MMK (MMK Metalurji) the duty is 10.5%, for other Turkish steel producers – from 2.4% to 11%.
According to the investigation, imports of stainless steel from the Russian Federation and Turkey increased more than five times – from 196.643 thousand tons in 2017 to more than 1 million tons during the investigation period – from 2.2% to 13.1% These countries sell their products below the EU market average.
The EC recalls that at this moment sanctions were imposed against the Russian Federation, which also affect the supply of steel products in the region or directly to companies that produce and export the metal during the investigation, and since mid of March a complete ban on the supply of stainless steel in the EU was introduced.
It will be recalled that in May, the United States canceled 232 customs tariffs for the import of Ukrainian steel within a year.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.