Earlier this week, MEPS reported the findings of the Anti-Fraud Commission's investigation into imports of Indonesian stainless steel cold-rolled products (SSCR) from Taiwan, Turkey and Vietnam. Following the discovery of evidence that countervailing duties (CVD) imposed on imports of Indonesian SSCRs into the EU were bypassed, the CVD rate of 20.5% will now be extended to imports from the three countries.
In a further blow to importers, the Commission also extended Indonesia's 19.3% SSCR anti-dumping duty to include Taiwan and Vietnam. Evidence collected by the Commission indicates circumvention of anti-dumping duties imposed on SSCRs of Indonesian origin by companies in two countries, but not Turkey.
MEPS International's analysis of the new duties (scroll through the tables above) has clarified the new rates applied. Some stainless steel companies in affected countries have been exempted from one or both tariffs. In other cases, they will add significant costs and complexity to importing SSCRs.
MEPS head of price analysis and forecasts Kaye Ayoub said: “Importing cold-rolled stainless steel into the EU could now prove very costly from some of these sources. Even a small order with such a high interest rate can result in significant duties being paid upon the material's arrival. Therefore, to avoid this, buyers will concentrate their orders on fewer exempt suppliers. Consequently, lead times for orders from these companies are likely to be extended. This could lead to higher import prices."
In introducing the anti-dumping duty extension, the Commission said it would suspend Taiwan's current 6.8% anti-dumping duty on companies not exempt from the new rate to avoid double imposition of duties.
Where EU tariff measures to protect steel imports in excess of the quota apply, only duties in excess of the 25% tariff will be levied. The 25% safeguard duty is not cumulative and, as such, will not be added to the anti-dumping and GCC rates.
Eight stainless steel companies from Taiwan and Vietnam received an exemption from the new anti-dumping duty rate of 19.3%.
Taiwan
Walsin Lihwa
Vietnam
