Arab steelmakers look to avert threat of cheap Chinese imports

Monday, 24 November 2014 17:43:38 (GMT+3)   |   Istanbul
       

As announced by the UAE-based steelmaker Emirates Steel, the Arab Iron and Steel Union has warned about the inflow of Chinese steel imports into the region at prices below the normal market value, negatively impacting production volumes and profitability and thereby causing damage to both existing and future investment projects.

The Arab Iron and Steel Union also called for Arab governments to revise import tariffs or increase duty levels to avoid the threat of cheap imports from China, citing the 110 percent antidumping duty imposed by the US on Chinese wire rod imports and Turkey raising its import duties to 30-40 percent.

The Union also indicated that the steel industry plays a crucial role in the region's development plans and therefore should be protected against unfair trade practices.


Similar articles

Emirates Steel calls for action on surging imports and lower prices

20 Apr | Steel News

Emirates Steel calls for action on surging imports and lower prices

20 Apr | Steel News