EU to set final duties on steel imports from Turkey and Russia

The European Commission (EC) plans to impose final anti-dumping duties on European Union imports of hot-dip galvanized steel coils from Russia and Turkey following an investigation into alleged dumping, according to a May 10 Commission document circulated to interested parties. .

The Commission stated in a general disclosure document reviewed by S&P Global Commodity Insights that, subject to the conclusions reached with respect to dumping, damage, causation and the interests of the Union, and in accordance with Article 9(4) of the Basic Regulation, the final anti-dumping - dumping measures should be introduced to prevent further damage to the Union industry by dumped imports of the product in question.

“Anti-dumping duties should be set in accordance with the lesser duty rule,” he added.

The final rates of anti-dumping duties, expressed at the price at the border of the CIF Union with unpaid customs duty, are: PJSC "Magnitogorsk Iron and Steel Works" 36.6%; Novolipetsk Iron and Steel Works of Russia 10.3%; Russian PAO Severstal 31.3%; all other Russian companies 37.4%; Turkish MMK Metalurji 10.6%; Turkish Tat Metal 2.4%; Turkish company Tezcan Galvaniz 11.0%; other cooperating Turkish companies 8.0% and all other Turkish companies 11.0%.

Interested parties are given a period during which they can make statements after the last disclosure of information by the European Commission.

The EC did not formally confirm the decision to impose final tariffs on AD when it contacted Commodity Insights on May 11.

The EC launched an investigation into HDG imports from Russia and Turkey in June 2021 to determine whether the products were dumped and whether these imports harmed EU producers, as previously reported by Commodity Insights.

EU countries remained Turkey's top coated coil export destinations in 2021 despite quotas and anti-dumping investigations.

According to the Turkish Statistical Institute, or TUIK, Spain was Turkey's top coated coil buyer in 2021, importing 600,000 tons, up 62% from last year, while exports to Italy reached 205,000 tons, up 81 % more.

The other major buyer of coated rolls in Turkey in 2021 was Belgium, which imported 208,000 tons, down 9% from last year, while Portugal imported 162,000 tons, twice as much as last year.

The latest EU tariff decision on AD could limit Turkey's HDG exports to the region in the coming months, where demand for the product is currently declining.

HDG prices for Turkish mills were estimated by Commodity Insights on May 6 at $1,125/t EXW, down $40/t from the week due to sluggish demand.

Due to Russia's military aggression against Ukraine, the EU has already imposed several packages of sanctions against Russia, which also applied to steel products, including HDG.