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29. August 2017

EU sets duties on Chinese cast iron products to counter dumping

The European Union has levied provisional tariffs as high as 42.8 percent on some Chinese cast iron products after an eight-month investigation found unfairly low prices hurt the bloc's producers.

The European Commission, the EU executive body, said while it had detected no dumping by India, the investigation would continue until definite findings were made.

The Commission's Aug. 16 decision published in its Official Journal on Thursday was triggered by a complaint from Fondatel Lecompte SA, Ulefos Niemisen Valimo Oy Ltd, Saint-Gobain PAM SA, Fonderies Dechaumont SA, Heinrich Meier Eisengießerei GmbH & Co KG, Saint-Gobain Construction Products UK Ltd and Fundiciones de Odena SA.

The group makes more than 40 percent of the 28-country bloc's cast iron products.

"Prices of dumped imports from the People's Republic of China significantly undercut Union industry prices during the investigation period with undercutting margins ranging from 35.4 percent to 42.7 percent leading to decreasing market shares and profits for the Union industry," the Commission said.

The provisional tariffs, which range from 25.3 percent to 42.8 percent, will affect Fengtai (Handan) Alloy Casting Co Ltd, Botou Lisheng Casting Industry Co Ltd and Shijiazhuang Transun Metal Products Co Ltd, among others.

Source: bimbinvestment.com.my

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