After the investigation initiated in September 2020, the European Commission has recently introduced provisional anti-dumping duties on imports of Stainless Steel Cold-Rolled flat products (SSCR) originating in India and Indonesia (Regulation 2021/854).
Underlying this measure is the fact that these countries have been largely benefiting from major distortions in the cost of the raw material resulting from the measures implemented by their governments to unfairly support their export-oriented players.
EUROFER – the European Steel Association – greeted the provision as an important first step in rolling back the effects of stainless steel dumping in Europe. The Commission has indeed imposed provisional anti-dumping duty taxes on steel products from India (13.6% to 34.6%) and Indonesia (19.9% to 20.2%). Axel Eggert, Director General of EUROFER, commented: “We welcome that the European Commission has confirmed imports of stainless steel from India and Indonesia were sold at dumped prices and caused significant injury to the EU stainless steel industry. [...] We also expect anti-subsidy measures to eventually come into play.” The European Commission has to address both dumped and subsidized exports of Indian and Indonesian steel products, claimed Mr. Eggert. In this regard, the EC has been conducting an anti-subsidy investigation against SSCR products from these countries since February 17, 2021. The provisional results are expected to come at the end of this year.
For the sake of the EU steel market, it is paramount that the Commission prevents any attempt to bypass these measures, as the impact of the raw material price distortions is expected to grow even worse in the near future.
Image: worldsteel / Seong Joon Cho