Posted on 14 Oct 2019
The EU announced on 10 October that the European Commission (EC) is launching an investigation into subsidised imports of hot rolled stainless steel coil from China and Indonesia. This follows a complaint by regional steelmakers’ association Eurofer on 25 August on behalf of four European producers, Kallanish notes.
The product subject to this investigation is flat-rolled products of stainless steel, whether or not in coils (including products cut-to-length and narrow strip), not further worked than hot-rolled. It excludes products, not in coils, of a width of 600mm or more and of a thickness exceeding 10mm.
The product allegedly being subsidised is originating in the People’s Republic of China and Indonesia currently falling under HS codes 7219 11, 7219 12, 7219 13, 7219 14, 7219 22, 7219 23, 7219 24, 7220 11 and 7220 12.
The evidence provided by Eurofer shows that the volume and the prices of the imported product under investigation have had a negative impact on the quantities sold by the EU industry. This has resulted over a prolonged period of time, in continuous adverse effects on the financial situation, the employment situation and the overall economic performance of EU stainless steelmakers. According to the complaint, there is indication that further injury will crystallise from this situation of volume and price pressure, the EC says.
The investigation will be concluded within 12 months of the current notice, the EC adds. Provisional measures could also be imposed within 9 months of the publication of the notice.
A recent surge in both the output and export into Europe of Indonesian product has been of particular concern to regional stainless producers.
