EEC's Steel Stride: Anti-dumping Extended

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Synopsis:

The Eurasian Economic Commission fortifies its stance against steel dumping, extending the anti-dumping duty on cold-deformed seamless stainless steel pipes from China and Malaysia until January 22, 2029. The duty rate sees a significant increase to 29.39%, reflecting the results of a thorough investigation. The decision, driven by concerns raised by key industry players, aims to address changing market dynamics and ensure fair competition within the Eurasian Economic Union.

Article:

In a bid to safeguard the interests of domestic steel producers, the board of the Eurasian Economic Commission (EEC) has extended the anti-dumping duty on cold-deformed seamless stainless steel pipes from China and Malaysia. This move, effective until January 22, 2029, underscores the EEC's commitment to maintaining fair trade practices within the Eurasian Economic Union (EAEU).

The anti-dumping duty, initially implemented in 2013 at 19.15% of the customs value, has been a crucial measure to counter the influx of cheaper steel imports. The decision to extend the duty follows a detailed investigation prompted by concerns raised by industry leaders, including JSC ChelPipe Group, JSC Pervouralsk Novotrubny Plant (PNTZ), TMK-INOX LLC, and Cyberstal LLC.

According to EEC Trade Minister Andrei Slepnev, the decision to extend and increase the duty was based on the changing circumstances observed in the market. The cost of raw materials for steel production in China rose at a faster rate than the prices of imported finished pipes to the EAEU, necessitating a revision of the duty rate.

The anti-dumping measure, initially targeted at Chinese steel, was later extended to include Malaysia. The consistent extension of the duty reflects the EEC's commitment to providing a level playing field for domestic steel manufacturers and preventing unfair trade practices that could harm the local industry.

Slepnev emphasized that the decision was not taken lightly and was backed by a comprehensive investigation launched in response to concerns expressed by key players in the steel industry. The increase in the duty rate to 29.39% is a strategic move to counteract the impact of changing market dynamics and ensure that local steel producers can compete on fair terms.

Conclusion:

The EEC's decision to extend and elevate the anti-dumping duty on cold-deformed seamless stainless steel pipes demonstrates a proactive approach to protect the domestic steel industry. By addressing the challenges posed by changing market conditions and foreign competition, the EEC aims to foster a sustainable and equitable environment for steel production within the Eurasian Economic Union.

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