EU imposes sanctions against Russian metallurgical companies
The European Union imposed anti-dumping duties on cold-rolled steel from Russia and China, the EU official journal reports. Tariffs for Russian manufacturers range between 18.7% and 36.1%.
The tariffs are introduced retroactively, back to December 2015 and will be in place for five years. For Chinese companies the amount of the anti-dumping duty is between 52.7 % and 59.2 %.
Brussels launched an investigation after a complaint from the European Steel Association (Eurofer), representing interests of the producers of more than 25% of the volume of the cold-rolled steel.
The investigation was also conducted in relation to Brazil, Iran, Serbia and Ukraine. In March of this year, the U.S. said it will impose anti-dumping duties on steel from China, Russia, South Korea, Brazil, India, Japan and the UK.
Earlier, Reuters informed that Ukraine, Russia and China account for about 60% of total steel imports. Canada imposed anti-dumping duties on steel plate from Russia and India.