Eurofer could initiate AD investigation into SS WR from Taiwan

Eurofer could initiate AD investigation into SS WR from Taiwan

Taiwanese steel producer Yieh United Steel Corp (YUSCO) announced yesterday that the European Confederation of Iron and Steel Industries (Eurofer), the iron and steel branch of the European Union (EU), will likely initiate an antidumping investigation into stainless steel wire rods imported from Taiwan. The company added that the investigation could also involve Indian producers/exporters of the subject merchandise. According to Eurofer, the increase in the exports from Taiwan constitutes dumping of the subject merchandise in the 25 member states of the EU. In line with statistics released by Eurofer, EU members combined imported an average of nearly 60'000 metric tons of stainless steel wire rods per month during the January - April period of 2005. This indicates an increase of close to 38 percent year on year. Sources inform that Taiwanese origin stainless steel wire rods accounted for 2.1 percent of total consumption in the EU in 2003; however, the market share of Taiwanese origin stainless steel wire rod increased to 2.8 percent in 2004 and to four percent during the first four months of 2005.