EU investigates growth in steel imports from Russia and Brazil

The European Commission will investigate an increase in the supply of cheap hot rolled flat products and galvanized steel and alloys from Russia, Brazil and three other countries, following complaints from European competitors.

Such measures should not cause significant damage to Russian companies, since currently galvanized steel is widely used for the manufacture of profiled sheet, which is in demand in the construction industry on the Russian market.

At the same time, the EU executive branch stated that the case, the study of which was completed by June 30, 2016, was opened in order to make a final decision. In addition to Russian and Brazilian exporters, the Commission will also make a decision regarding supplies from Serbia, Ukraine and Iran. The European Steel Association (Eurofer), whose members produce more than a quarter of the EU's iron and steel products, prompted an investigation by filing a complaint in May.

“The applicant has provided evidence that imports of products from the countries concerned have generally increased significantly, both in absolute terms and in terms of market share,” the Commission reports in the Official Journal.

The EU will be able to impose import tariffs on steel products if evidence is presented that they are sold at below fair market prices and harm the business of European competitors. Currently, 10 anti-dumping investigations are underway in relation to the sale of steel products on the EU market.