EU sets dumping duties on steel from 4 countries, including Ukraine - Reuters
The European Union has decided to set duties on hot-rolled steel from Ukraine, Brazil, Iran, and Russia, after a complaint by EU manufacturers that the product used for construction and machinery was being sold at excessively low prices, Reuters reports.
The European Union will levy anti-dumping tariffs of between EUR 17.6 and EUR 96.5 (US$20.6-112.8) per tonne from Saturday, the European Union's official journal said on Friday, according to Reuters.
The European Commission had initially proposed setting a minimum price - of EU 472.27 per tonne - but revised its proposal after failing to secure backing from EU member states.
Among the companies subject to tariffs were the Brazil arms of ArcelorMittal and Aperam, both of which also produce in Europe, Companhia Siderugica Nacional, Usinas Siderugicas de Minas Gerais and Gerdau - at rates between EUR 53.4 and EUR 63.0 per tonne.
Read alsoReuters: Ukraine takes Kazakhstan to WTO over duties on steel pipesIranian steel would be subject to a duty of EUR 57.5 per tonne and Ukraine’s Metinvest Group EUR 60.5.
Rates for Russia producers varied from EUR 17.6 for PAO Severstal, EUR 53.3 for Novolipetsk Steel to EUR 96.5 per tonne for MMK.
The Commission also ended its investigation into Serbian steel imports without proposing measures.