[ Director: Mário Frota [ Coordenador Editorial: José Carlos Fernandes Pereira [ Fundado em 30-11-1999 [ Edição III [ Ano X

quinta-feira, 10 de agosto de 2017

EU imposes import duties on some Chinese steel to counter subsidies



The European Commission imposed new duties on Chinese steel imports.
[Scott L/Flickr]

The 9 August decision by the European Commission followed a complaint by steel association Eurofer, whose members include ArcelorMittal, ThyssenKrupp and Tata Steel Europe.
Imports of Chinese coated, corrosion resistant steel have surged 45 percent this year and make up 51% of total EU imports of the product, according to data cited by investment bank Jefferies.
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Steel sector faces heated summer as trade war looms


The world’s most powerful nations risk failing to make enough progress on tackling steel overcapacity by an August deadline, which is seen by the United States as a potential reason to start a trade war.
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“With Voestalpine, Thyssenkrupp and ArcelorMittal leading exposure to galvanised (corrosion resistant) steel, today’s news is a positive catalyst for boosting domestic market share and margins,” Jefferies analysts said.
The EU has hit China, which produces half the world’s steel, with anti-dumping duties on various steel products in recent years after EU companies cited illegal subsidies.

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