ThyssenKrupp calls on EU to take effective anti-dumping action

ThyssenKrupp Europe calls for more effective anti-dumping measures by the European Union (EU) to prevent the growing supply of steel imports from other countries, especially from China. According to Andres Goss, director of ThyssenKrupp in Europe, only strict and timely anti-dumping actions can guarantee fair trade and protect the domestic steel industry in the region. Goss announced this at the annual European Steel Day event hosted by the European Steel Association (Eurofer).

Robercht Heimp, President of Eurofer, noted that imports of steel products to the EU region led to a significant decrease in market share for many domestic producers during 2014, due in large part to increased steel imports from China. Steel exports from China exceeded 93 million tons last year. Exports to the European Region have more than tripled from 1.2 million tons in 2009 to more than 4.5 million tons in 2014, and at the moment in 2015, imports of metal products from China are showing further growth.

ThyssenKrupp says that while it supports free unrestricted access to markets, barriers should be erected when dumping cheap products distorts markets. A toolbox must be in place to respond quickly to trade in goods at unfairly low prices.

Meanwhile, the European Commission responded that it is closely monitoring the pattern of behavior in steel trade in the region. The Commission also noted that the growth in imports of steel products has intensified in recent times and threatens domestic metallurgists in the EU region. However, no way has been found in which the procedure of actions in trading can be accelerated.

Commenting on this issue, the US has warned that any action in the EU region will provoke a reciprocal reaction from the affected countries. This, in turn, will have a greater impact on the European steel industry, as more steel products are exported to the region compared to the United States.