HRC: EU's Steel Import Duties Stand

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Synopsis:

The European Commission confirms the continuance of anti-dumping duties on hot rolled coil from Brazil, Iran, and Russia, initially imposed in 2017. The fixed duties, ranging from $20.6-$112.3/tonne, aim to counteract dumping practices. The decision, based on a review, affirms these measures, citing no compelling reasons against their continuation, noting changes in import volumes from the concerned countries.

Article:

The European Commission recently concluded its assessment on existing anti-dumping duties concerning hot rolled coil (HRC) imports from Brazil, Iran, and Russia. Initiated in 2017, these fixed duties, varying between $20.6-$112.3 per metric ton, aim to offset unfair trade practices. The review solidified the decision to uphold these measures, citing no substantial reasons against their continuation.

Originally enforced in October 2017, the duties targeted specific countries and mills, with Russia's Severstal facing the lowest duty and MMK encountering the highest. Ukraine was initially part of these duties, but the measure ceased following the Russian invasion last year.

The European Commission's official notice highlighted the absence of compelling reasons against sustaining these measures on hot-rolled flat steel imports from the mentioned countries. It notes changes in import patterns: a decrease in Brazilian imports, steady Russian import levels, and a complete halt in Iranian imports in 2020.

The decision, based on an evaluation post-2017 anti-dumping measures, highlights the impact on import volumes. Brazilian imports reduced, Russian imports remained consistent, and Iranian imports ceased, allowing the EU steel industry to recover from adverse effects caused by dumped imports.

Conclusion:

The European Commission's decision to retain anti-dumping duties on HRC imports from Brazil, Iran, and Russia underscores its commitment to fair trade practices in the steel sector. The review, considering import volume changes and their impact, solidifies measures to protect the EU steel industry from injurious effects of unfair imports.

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