14/03/25
EU finds no dumping on India HRC
London, 14 March (Argus) — A pre-disclosure to the EU's anti-dumping
investigation found no dumping on hot-rolled coil (HRC) imports from India,
while imposing provisional duties on Egypt, Japan and Vietnam in a range of
6.9-33pc from 7 April. Japan's Nippon Steel faces one of the highest import
duties, at 33pc, while benchmark mill Tokyo Steel has the lowest, at 6.9pc.
Fellow Japanese steelmakers Daido Steel and JFE Steel will be taxed at 32pc. All
other Japanese producers will have a provisional duty of 33pc. Material from
Vietnam will be subject to a 12.1pc duty, while Egyptian exporters face a 15.6pc
tax. No provisional duties are proposed for imports from Vietnam's Hoa Phat,
according to a leaked document from the European Commission. Egypt, Japan and
Vietnam sold 2.2mn t of HRC into the EU last year, accounting for around 25pc of
total imports. Egypt sold 694,000t, Japan 860,000t and Vietnam 727,000t. Indian
imports will be unconstrained, as they are subject to a 0pc duty. It shipped
1.2mn t into its own quota last year. India was the most affected HRC supplier
by the safeguard review, with imports from the country falling by 23pc to
225,000 t/quarter. The provisional rates mean Vietnamese HRC will remain easily
workable into the EU, and the duties will have little impact on the volume of
supply from the country — apart from the limitations already imposed by the
safeguard review, which limits imports from other countries to around 111,000
t/quarter. Egypt would be "cooked", a trader said, with its import volumes
likely to decline substantially, if the provisional duties become definitive.
Prices in the EU are less likely to increase if these duty rates are imposed,
and because the safeguard review results earlier in the week were less stringent
than expected, a buyer said. The low duties on Vietnamese material — below most
market expectations — will be welcomed by large re-rollers that account for a
high share of the country's exports to the EU. Definitive measures are expected
by 7 October. By Lora Stoyanova and Colin Richardson EU HRC provisional
anti-dumping duties % Mill Provisional duty Japan Nippon Steel 33.0 Tokyo Steel
6.9 Daido Steel 32.0 JFE Steel 32.0 All others 33.0 Egypt Ezz Steel 15.6 All
others 15.6 Vietnam Formosa Ha Tinh 12.1 All others* 12.1 India All mills 0† *
No duties on Hoa Phat Dung Quat †no dumping found - EC Send comments and request
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