The European Commission has announced that it has initiated an absorption investigation regarding certain
stainless steel
wire imports from
India upon the request lodged by the European Steel Association (EUROFER). The Commission will investigate whether the antidumping (AD) duty in force has had an effect on export prices, resale prices or subsequent selling prices in the EU.
According to the Commission, EUROFER submitted sufficient evidence showing that, after the original investigation period and prior to and following the imposition of the antidumping duties on imports of the product under investigation, export prices have decreased and there has been insufficient movement in resale prices or subsequent selling prices in the EU. This has resulted in an increased dumping margin which has impeded the intended remedial effects of the measures in force. EUROFER also suggested that the decrease in prices cannot be explained by changes in raw material prices, energy costs, labor costs, duty rates or exchange rates. It has also provided evidence showing that
stainless steel
wire imports have continued to enter the EU in significant volumes.
As SteelOrbis previously reported, the European Commission imposed a definitive antidumping duty on Indian
stainless steel
wire imports ranging between zero and 12.5 percent.
The products subject to antidumping duty currently fall within CN codes 7223 00 19 and 7223 00 99.