Minimum import price on HRC in Europe only a 'victory for buyers'

The application of a minimum import price (MIP) on hot rolled coil (HRC) in Europe is a “victory for buyers”, but it will not guarantee protection for domestic steelmakers from cheap imports, market sources have told Metal Bulletin.

The European Commission (EC) has decided to impose an MIP on HRC from Russia, Ukraine, Brazil and Iran. Suppliers from these four countries will be required to pay anti-dumping duties in the range of 5.30-33% if they sell their products for less than €472 ($550) per tonne cif EU ports.
The EC is scheduled to announce a definitive decision on the case by October 6 this year.
However, European steel association Eurofer protested against the EC’s choice of an MIP instead of anti-dumping duties, claiming that such a measure will not be enough to stop dumping.

“The [EC’s] decision is mainly supported by buyers from Italy. We are now entering a new phase in EU trade defence policy. The EC is squeezed between steel producers and end-users, and pressured by lobbyists. So those who shout the loudest will gain the ears of the Commission,” a representative...

Published

Maria Tanatar

July 26, 2017

17:56 GMT

Dnepr