The European Commission (EC) has announced that it has decided to impose a provisional antidumping (AD) and countervailing duty (CVD) on
stainless steel
wire imports from
India.
The provisional antidumping duties for Indian producers/exporters range between 24.4 percent and 32.3 percent, while the countervailing duties for Indian producers/exporters range between zero percent and 4.3 percent.
As SteelOrbis previously reported, the EC initiated duty investigations for the
stainless steel
wire imports from
India upon a complaint received from the European Steel Association (EUROFER). The products subject to investigation currently fall within CN codes 7223 00 19 and 7223 00 99.
Meanwhile, EUROFER announced that it welcomes the EC's decision regarding imposition of provisional duties on the abovementioned imports from
India, underlining that dumped imports from
India now represent over 19 percent of
European Union consumption of
stainless steel drawn
wire. At the same time, they make up more than 50 percent of total imports into the EU.
EUROFER director general Gordon Moffat pointed out that the 15 percent export duty on
stainless steel scrap introduced by the Indian authorities has contributed to lowering prices of downstream products such as
stainless drawn
wire.