More anti-dumping duties on Chinese and Taiwanese stainless steel have been upheld, this time in Europe. A major nickel producer is also slashing output.
EU Upholds Stainless Duties
European Union member states have backed the imposition of anti-dumping duties on imports of cold-rolled, flat stainless steel from China and Taiwan, ThomsonReuters reported.
The EU will charge tariffs of between 24.3% and 25.3% for sheet, coil and strip imports from China and of 6.8% for Taiwanese product, following a complaint lodged in May 2014 by the European steel producers association Eurofer.
Mincor Will Cut Production
Australian nickel miner Mincor Resources said on Wednesday it will reduce production by up to 56% over the six months ending in December due to persistent low nickel prices that have left operating levels unsustainable.