The European Union imposes tariffs on stainless steel from the Russian Federation and Turkey

The European Commission (EC) decided to introduce anti-dumping duties on of corrosion-resistant steel supplies from Russia and Turkey for a 5 years period. This is reported by Interfax-Ukraine with the reference to EC data.

This decision was accepted after the completion of the anti-dumping investigation, which was held in the period from January 1 to December 31, 2020.

The European Steel Industry Association (Eurofer) initiated the investigation. The subject of the investigation is rolled steel with galvanized, magnesium or aluminum coating. At the same time, transformer and high-speed steel were not included in the investigation.

Anti-dumping duties on steel from Magnitogorsk Metallurgical Plant amounted 36.6%, Novolypetsk Metallurgical Plant – 10.3%, Severstal – 31.3%, other Russian enterprises – 37.4%.

For the Turkish asset of MMK (MMK Metalurji), the duty is 10.5%, and for other steel producers from Turkey – from 2.4% to 11%.

The import of corrosion-resistant steel from the Russian Federation to Turkey decreased by more than 5 times – from 196.6 thousand tons in 2017 to more than 1 million tons during the investigation period. The share of supplies of this steel from these countries increased from 2.2% to 13.1%. At the same time, the EC notes deliveries at lower prices than the average market prices in the EU.

As GMK Center reported earlier, in mid-March the European Union Council agreed the fourth package of restrictive measures against Russia, which provides a ban on deliveries to the EU of Russian steel products with a total value of €3.3 billion.