The government has canceled anti-dumping duties for some companies whose products are subject to protective duties
The UK has revised its approach to the assessment of anti-dumping duties on flat-rolled, unalloyed and other alloyed steel from Iran and the Russian Federation in the event that the product concerned is subject to a safeguard duty. It is stated in a message on the website of the British government.
The corresponding decision was published on August 2 and comes into force from this date. There are 34 types of products that fall under the UKGT classifier codes starting with 7208, 7211, 7225 and 7226.
The anti-dumping duty on steel products will be charged until the corresponding import quota is exceeded. After that, imports will be subject to a safeguard duty, as well as a portion of the anti-dumping duty that exceeds the amount of the safeguard duty.
Along with the change in the approach to the calculation of duties, the anti-dumping duty rates were changed depending on the exporting company. For Iranian companies (Mobarakeh Steel Company and others), the anti-dumping duty rate was zeroed. Before the change in the approach in calculating duties on Iranian products, an anti-dumping duty of £48.12/t (17.9%) was levied.
For NLMK and Severstal, the anti-dumping duty rate was also set at zero, while for MMK and other Russian producers – £19.57/t (8%). Before the change in the approach to calculating duties, the anti-dumping duty rate for the Novolypetsk Steel Plant (NLMK) was £44.6/t (15%), Severstal – £14.73 (5.3%), MMK and others – £80.76/t (33%).
This notice does not apply to flat rolled steel from Brazil and Ukraine, as products from these countries are not subject to a protective duty.
As GMK Center reported earlier, in May 2023, the UK extended for a year suspension of trade protection measures regarding the import of hot-rolled flat and coil products from Ukraine.
Also, in May 2023, the UK introduced new sanctions against a number of Russian companies and banks. Since May 18, they have been extended to Severstal, Magnitogorsk Steel Plant (MMK), Pipe Steel Company (TMK), and Chelyabinsk Steel Plant (Mechel Group). The UK also banned the import of Russian-made aluminum, nickel and copper.