In a significant move aimed at safeguarding the European steel sector, the European Union has commenced an anti-dumping investigation into hot-rolled coil (HRC) steel imports from Egypt, Vietnam, India, and Japan. This investigation follows a formal complaint filed by the European Steel Association (EUROFER) on June 24, 2024, which contends that these imports have been sold at unreasonably low prices, inflicting considerable damage on the EU steel industry.
The European Commission's investigation, announced on August 8, 2024, will scrutinize whether these imports have been dumped and if their presence in the market has adversely affected EU producers. The focus will be on flat-rolled products made of iron, non-alloy steel, or alloy steel that are either in coils or cut-to-length and remain in their hot-rolled state.
The probe will review import data from April 1, 2023, to March 31, 2024, and will consider injury trends dating back to January 1, 2021. The Commission expects to complete the investigation within a year and could impose provisional anti-dumping duties as early as seven to eight months from now.
This investigation could lead to significant changes in the trade dynamics for HRC steel in Europe, potentially resulting in new tariffs to counteract what is perceived as unfair pricing practices from these four countries.
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