EU imposes new anti-dumping duties on Chinese steel

Belgium, Brussels: The European Union has imposed provisional import duties of up to 28.5 percent on certain Chinese corrosion-resistant steels following an eight-month investigation which concluded that the products benefited from unfair subsidies, reports Reuters.

This decision came after a complaint by steel association Eurofer whose members include ArcelorMittal, ThyssenKrupp and Tata Steel Europe.

The European Commission found anti-dumping duties necessary to help producers in at least 15 EU countries.

The EU import duties, ranging from 17.2 percent to 28.5 percent, will affect Hesteel Group, Shougang Group, Shagang Group and several other Chinese companies.

Source: Reuters