Kommersant: Russian metallurgists demand investigation into imports from China and Ukraine
Russian metallurgists Severstal, NLMK and MMK wanted to renew the anti-dumping investigation into supplies from China and Ukraine in the Eurasian Economic Commission (EEC). On the protection industrialists needed from imported rolled products reports “Kommersant”.
Companies that provide up to 70 percent of galvanized rolled products on the union market demand maintaining duties of 12.69-17 percent for supplies from China and 23.9 percent for imports of Ukrainian metal. Otherwise, they warn of the risks of resuming dumping imports.
The argument cited is the great potential for Chinese supplies of rolled products at reduced prices. Currently, dumping duties are imposed on rolled products from the country in the EU, the USA, Thailand, Ukraine and South Africa, and anti-dumping investigations against China are being conducted by Vietnam and Columbia. Ukraine, in turn, supplies goods to third countries at prices reduced compared to domestic cost.
At the beginning of the year, Severstal owner Alexey Mordashov, at the RSPP international forum, stated the need to ensure equal conditions in the EAEU markets.
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China, which produces a billion tons of steel a year, has increased exports due to a crisis in its own construction industry. By the end of the year, it could increase exports to 104 million tons. According to Maxim Khudalov, chief strategist at the investment company Vector X, metallurgists in China enjoy preferential treatment from banks, which allows them to sell goods below cost price when entering new markets.
Earlier, China itself decided to investigate subsidies to suppliers of dairy products imported from EU countries (Austria, Belgium, Ireland, Italy, Romania, the Czech Republic and Croatia). The situation will be investigated within a year with the possibility of an extension for another six months. The problem concerning European exports has already begun to be discussed with the EU.
The day before, the European Union announced the approval of a draft tariff on supplies of Chinese electric cars, which are expected to come into effect in November. Officials explain their introduction by the aid that automakers receive from the state. In response, China has launched an investigation into pork imports from EU countries and is also studying the situation with supplies of European brandy, against the backdrop of which France risks being left with millions of unsold bottles of cognac.
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