September 08, 2008

16 Chinese Steel mills to respond to EU AD investigation

It is reported that 16 Chinese steelmakers discussed possible responses recently in Beijing to EU's antidumping investigation yet finally gave up group response owing to disaccord in fee allocation. The discussion was aimed at EU's AD investigation into certain pre and post stressing wires and wire strands of non alloy steel imported from China.

The enterprises involved in the case thus will alone retain lawyers to act as their agents to respond to the investigation. As per report 16 steelmakers present discussed with several law firms and some would like to respond to the investigation. However, defenses on industry damages imply the enterprises concerned have to share retaining fees and once the defenses succeed, those who quit the group responding will also gain benefits. The 16 steelmakers failed to reach consensus.

The investigation will come to an end if China's defenses on industry damages succeed yet the antidumping duty, once imposed will last for 5 years. The investigation involves over 270,000 tonnes of products valued at more than USD 240 million.