The Commission has apparently decided not to propose provisional anti-dumping measures against imports of Stainless Steel Cold-Rolled products from China, Taiwan and South Korea, but to continue the investigation into the final stage of the procedure.
“We are disappointed that no action is being taken now as we know that all elements for imposing measures at the provisional stage are clearly present: massive dumped imports having pushed our industry into losses followed by a renewal of import surges since the second quarter of this year threatening to cause further injury,” reacts Gordon Moffat, Director General of EUROFER.
Imports from the exporting countries concerned increased by 460 percent from 2005 to 2007. This surge of imports undercutting the EU prices led to the Community industry losing sales, market share and suffering falling prices and plummeting profits which went into losses in 2007. “Only import surges of this dimension could have triggered such a disruption in the Community market,” Moffat points out.
“However, we are encouraged by the decision to continue the investigation. This gives us the opportunity to further deepen the analysis by the Commission and we are convinced that this will result in the imposition of final measures,” EUROFER’s Director General adds.
Represented by EUROFER, the European steel industry is the world leader in its sector with a turnover of EUR 140 billion and direct employment of 370 thousand people, producing 200 million tons of steel per year.
Contact
Gordon Moffat, Director General +32 2 738 79 26 (g.moffat@eurofer.be)
Axel Eggert, Director Public Affairs +32 2 738 79 34 (a.eggert@eurofer.be)