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EU Places Duties on Chinese Corrosion-Resistant Steel

Monday, February 12, 2018

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In a move against Chinese steel, the European Union has set new import duties on corrosion-resistant steel from the country, citing “unfairly low” prices.

The duties will apply for the next five years, and range from 17.2 to 27.9 percent, similar to the tariffs already set in place.

Steel Duties

The duties on the corrosion-resistant steel were put in place due to an investigation conducted by the European Commission, in response to a complaint by EU steelmakers’ association Eurofer.

Jatinsanghvi, CC-BY-SA-3.0, via Wikimedia Commons

In a move against Chinese steel, the European Union has started to set import duties on corrosion-resistant steel from the country, citing “unfairly low” prices.

As a result, the EU has 53 sets of measures in place on steel and iron products. Almost half of them are on products coming from China—27 in total.

China’s HBIS group, including Hesteel Co Ltd., is facing duties of 27.8 percent, with Shagan Group steelmakers facing duties at 27.9 percent.

According to Reuters, China’s share of the EU market in corrosion-resistant steel went from 10 percent in 2013 to around 20 percent in 2016.

China’s Commerce Ministry has expressed dissatisfaction with the measure, noting that sector issues were the result of the joint action of all countries, not unilateral measures.

   

Tagged categories: Corrosion resistance; Government; Stainless steel; Steel

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