EghtesadOnline: The European Commission has decided that Iran’s exports of hot-rolled coil to the continent will be subject to definitive anti-dumping duties.
According to a preliminary document seen by Metal Bulletin, duties will also be slapped on imports from three out of four other countries involved in the investigation, namely Russia, Ukraine and Brazil.
The duties range from 5.3% to 33%. The rate determined for imports from Iran stands at 23%.
Although the EC determined during its investigation that all five countries have been trading HRC material at dumped prices, it decided to terminate the investigation into imports from Serbia because the volumes were found to be negligible, Metal Bulletin reported on Monday.
According to Financial Tribune, the HRC import volumes from Serbia decreased during the investigation period and now comprise a 1% share of the market.
The EC initiated the anti-dumping probe into these HRC imports on July 7 last year.
The investigation started after the European steel association, Eurofer, lodged a complaint on behalf of European producers on May 23, 2016, alleging that HRC imports from the five countries were being dumped and causing material injury to the European steel industry.
According to Eurostat’s data shared with Financial Tribune, Iranian steelmakers exported 34,140 tons of products valued at €16.3 million during the first quarter of the year.
The group and its members were startled by the data showing Iranian exports, especially HRC shipments, growing nearly eightfold between 2013 and 2016 to just over 1 million tons annually, placing Iran third behind India (1.9 million tons) and China (5.7 million tons).
As the case unfolded, it was met with resistance from independent European distributors, as the case of HRC from the mentioned countries and one case against Chinese material covered about 80-90% of total HRC imports in the EU.
As a result, a consortium of steel companies from Italy and elsewhere across Europe was established in mid-July of 2016 to maintain competition in the EU steel market. This consortium was established by Italian steel trade association Assofermet and is represented by Brussels-based law firm Van Bael & Bellis.
As a result of this opposition, the EC decided in April this year that it would not impose preliminary duties on the imports under investigation.
However, the EC is scheduled to announce its definitive decision on the anti-dumping case by October 6 this year.
The EC imposed definitive duties at the rate of 18.10-35.90% on HRC imports from China back in April.