Source: Jeff Yoders/MetalMiner.
The European Union imposed tariffs as high as 13% on steel reinforcing bar (rebar) from China, the latest in a series of sanctions against Chinese overproduction.
The duties punish Chinese exporters of high-fatigue performance steel concrete rebar for allegedly selling them in the EU below cost, what’s known as dumping in international law.
The targeted companies include Jiangyin Xicheng Steel Co., Jiangsu Yonggang Group Co. and Zhangjiagang Shatai Steel Co.
EU-based petitioners including the Celsa and Riva groups suffered “material injury” as a result of dumped imports from China, the European Commission, the 28-nation bloc’s executive arm in Brussels, said today in its Official Journal. The duties, which will take effect on Saturday, are for six months and may be prolonged for up to five years.
Chinese exporters expanded their share of the EU market for high fatigue performance steel concrete reinforcement bars — also called HFP rebars and known for their resilience — to almost 36% in the 12 months through March 2015 from 7.9% in 2013 and zero in previous years, the commission said today.
The original anti-dumping complaint was made by European steel industry group Eurofer on behalf of producers that account for more than a quarter of the EU’s output of HFP rebars. Chinese shipments of HFP rebars to the EU go to the U.K. and Ireland, Eurofer said at the time.
The provisional duties range from 9.2% to 13%..