The EU will impose anti-dumping duties on Chinese cold-rolled steel

Sina US Stock News: In the early morning of the 5th Beijing time, the European Union announced on Thursday

Sina US Stock News: In the early morning of the 5th Beijing time, the European Union announced on Thursday that it will impose anti-dumping duties on cold-rolled steel imported from China and Russia for a period of 5 years to protect the interests of EU steel producers facing overcapacity.

The European Union has announced that it will impose tariffs of 19.7% to 22.1% on cold-rolled steel imported from China and 18.7% to 36.1% on cold-rolled steel imported from Russia. Cold rolled steel is widely used in industries such as packaging, automotive, and construction.

This is the second time in a week that the European Union has imposed anti-dumping duties on steel products from China. Last Friday, the EU announced that it will impose anti-dumping duties on steel bars imported from China.

In recent years, EU steel producers have repeatedly complained about Chinese competitors dumping steel products into the EU. The European Union conducted an investigation and announced at the end of January that it would impose a temporary anti-dumping duty of 13.8-16% on cold-rolled steel plates imported from China. Now, this temporary tariff will be replaced by a new formal tariff.

So far, the EU has taken 37 anti-dumping and anti subsidy measures in the steel industry, including 15 against Chinese products. As the world's largest steel producer, China has doubled its steel exports to the European Union in the past two years, during which the EU's steel prices have fallen by approximately 40%.