EAEU’s Anti-Dumping Duty Extension on Galvanized Steel Imports
The Eurasian Economic Union (EAEU) has decided to extend its anti-dumping duty on galvanized steel imports from China and Ukraine. This extension, effective until June 9, 2030, comes after a second anti-dumping investigation. The decision follows concerns raised by national steel producers about the impact of cheaper imports on the local market.
The investigation was initiated in September 2024, as the original duties were nearing expiration. The EEC responded to appeals from major Russian steelmakers, including Magnitogorsk Iron and Steel Works (MMK), NLMK, and Severstal. The anti-dumping duty, first introduced in December 2019, aims to prevent unfair competition from cheaper galvanized steel flooding the EAEU market.
Details of the Anti-Dumping Duty and Market Implications
The anti-dumping duty applies to galvanized steel products imported from China and Ukraine. The EEC’s new decision maintains a duty rate of 12.69-17% for Chinese-made galvanized steel, depending on the specific manufacturer. Ukrainian exports face a duty of 23.9% of the customs value. This move aims to protect local steel manufacturers from significant price undercutting.
The EAEU, comprising Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia, seeks to ensure a fairer trading environment for its domestic producers. In addition to protecting national industries, the EEC may revisit the terms of this duty if significant changes occur in global trade conditions.
SuperMetalPrice Commentary:
The EAEU’s decision to extend anti-dumping measures highlights the growing concern over unfair competition in the steel industry. As global production of stainless steel continues to rise, this extension underscores the ongoing tension between domestic producers and cheaper imports. It remains to be seen whether these measures will significantly impact global trade flows or prompt further investigations into other steel-producing nations.
Leave a Reply
You must be logged in to post a comment.