EU decided to levy anti-dumping duty on China's steel and wire rod

July 28 MetalBiz--EU foreign ministers meeting endorsed a proposal on July 27 without the discussion, decided to levy 24% anti-dumping duty on China's steel and wire rod for a period of five years.

In February, 2009, EU started to impose 24% anti-dumping tax temporarily on China's steel and wire rod. As usual, the temporary anti-dumping tax implement period is half year, European Commission will carry out so-called investigation and then decide whether the period is 5 years or not. The decision needs to be approved by 27 members of EU.

In recent two years, EU levied anti-dumping tax on China's steel products or made anti-dumping survey, which not only hurt the trade relationship between China and Europe, but also do harm to the interests of European steel customers. The European steel customers think that EU levying the anti-dumping tax on the China's steel products will cause the tight supply of steel products in the EU markets; in addition, during the financial crisis the implement of such trade restrictions, will bright up the steel products' prices in European market and the costs of buyers.