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Complaint «Eurofer» has led to anti-dumping duties

The European Commission has responded to the complaint «Eurofer», filed in May last year. As a result, a temporary anti-dumping duties imposed. They touched upon the stainless steel cold-rolled Taiwan and China. In the production of Taiwan's fee will be 12% for products from China — 25.2%. During the investigation conducted by the European Commission, it became clear that China and Taiwan stainless steel rolling caused considerable economic damage to E. S. Its implementation is carried out at dumping prices. In addition, the imported volumes have steadily increased. If from 2010 to 2013, import growth was 70%, then in 2014 an increase of 200%.

Director General of «Eurofer», Axel Eggert, said that such a sharp jump in imports has nothing to do with the rate of consumption of stainless steel in E. C. The main factor is the increase of Chinese production capacity in this sector. The production is much higher than the level of local demand. A similar situation exists in Taiwan. At the same time the EU Black Steel sector recently rebuilt production, reducing excess capacity. China also subsidized stainless steel edition. As a result — the Chinese products are literally overwhelmed with the global market.

The Chinese government is going to lift the ban 04.10.2015 regarding the purchase by foreign investors controlling stakes in the country's steel mills. The ban was introduced in 2005. However, in November 2014 he began to be considered a draft law on the reduction of prohibited sectors for foreign investment. Under consideration of the hit and ferrous metallurgy. The number of 'no' economic sectors has decreased from 79 to 38. The decision was taken after the forecast regarding economic growth in China. Li Keqiang, Prime Minister of the country, calculated the growth rate of 7% in the current year. This is the lowest figure since 1990. Today in China there is a decrease in property values, deflation and overcapacity.

Morgan Stanley Experts believe that in the current year, steel production in China reached a peak at the next demand reduction. Analyst, Hu Yanpina, believes that the lifting of the ban is too late. According to him, the change in policy will not be able to attract investors. Too many problems observed in Chinese steel industry has already experienced a «golden age». And Chinese companies are unlikely to be affordable for potential buyers.

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