Duties also affect producers from Russia, Brazil and Iran.
The Commission shall make the final decision about entry duties on hot-rolled steel from four countries – Russia, Ukraine, Iran and Brazil – until 6 October.
Earlier in this list was Serbia. This country was excluded from the list of countries-suppliers of hot-rolled steel, which are covered by the antidumping investigation, because of the low volume of supply in the EU.
Initially there was practically no doubt that the decision concerning the imposition of anti-dumping duties will be positive. These expectations were reinforced by the already imposed duties on cold-rolled sheet from Russia, as well as duties on imported China to the EU hot rolled steel. However, it was not so obvious: first, the proposal to introduce fees was probably ambiguous the member countries of the European Union.
Earlier, citing informed sources reported that the duty may be imposed in late August – early September, a number of traders believed that the restrictions will come into force at the end of July. However, until now no decision made. Second, this time, unlike all previous ones, the European Commission has not announced preliminary duty and the final solution, as it is already clear, will not be declared before October 6 – indicating possible differences within the European Commission.
Analysts say that the ongoing investigation has already led to a decline in exports to EU countries Russian steel demand up to 400 thousand tons in the first half of 2017, compared to 2.1 million tonnes set out in the EU in 2016. Most of all the possible imposition of anti-dumping duties will be felt by Severstal, however, the negative effect will be insignificant, since we are talking about 6% of the total production of rolled Severstal (MOEX: CHMF) in Russia.
Delivery, which focused on EU countries, will be redirected to other markets, experts believe.
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