The European Union may impose anti-dumping duties for wire rod imports from Moldova, China and Turkey, informs BASA-press citing Bloomberg.

According to the American publication, the additional tax is aimed at helping EU producers such as Corus Group to compete against cheaper imports from the three states.

To this end the European Commission is to proceed to an inquiry into whether Moldovan, Chinese and Turkish exporters sell wire rod in the EU below cost. According to Bloomberg, the probe covers 1.2 billion euros ($1.9 billion) of imports of the product.

The publication notes that commission has nine months to decide whether to impose provisional anti-dumping duties for half a year and EU governments have 15 months to choose whether to apply "definitive" levies for five years.

The Ribnita Metallurgic Plant is the Moldovan exporter of wire rod to the EU. In 2007 it produced 965,000 tonnes of steel and 909,000 tonnes of laminates, including about 480,000 tonnes of steel plate lining. During 2007, the Ribnita-based plant exported 934,000 tonnes of metallurgic product. About 53% of exports were supplied to the CIS member states, and over 47% to the rest of the countries, including the EU and North America. // BASA-Press



Publication date: 08 May 2008   

Source:

Archive