EC HRC trade probe will help local steelmakers regain market share, investment bank says

The upcoming preliminary duties on hot rolled coil (HRC) from five countries may be “a turning point in EU trade policy and a boon for local steelmakers hoping to regain market share,” according to investment bank Jefferies.

The European Commission (EC) is expected to set preliminary anti-dumping duties into HRC from from Brazil, Iran, Russia, Ukraine and Serbia on April 7. The EC has initiated an anti-dumping investigation into imports of material from the five countries on July 7, 2016 and implemented a ruling to register HRC imports from Russia and Brazil on arrival in the EU on January 6, 2017.
“This trade case is particularly notable in terms of the breadth of sources investigated as the five countries targeted [and] China – which was hit by [preliminary] anti-dumping duties in October 2016 – accounted for 82% of historical EU imports of HRC,” Jefferies said.

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Maria Tanatar

March 20, 2017

12:27 GMT