Assofermet against imposition of further EU duties on stainless steel

Thursday, 15 October 2020 16:52:34 (GMT+3)   |   Brescia

Assofermet, the association of Italian distributors of steel and ferrous and non-ferrous metals, has learned "with great concern" of the news of the opening of an antidumping proceeding concerning imports into the EU of stainless steel cold rolled flat products originating in India and Indonesia, the association has stated in a press release. According to Assofermet, in Europe a "new highly concentrated scenario at the production level" is emerging. After the imposition of a definitive antidumping duty on hot rolled stainless steel coils originating in Indonesia, China and Taiwan, and the safeguard quotas currently in force, "with this latest investigation the EU, in fact, escapes almost all foreign competition. The European market will find itself completely isolated from global competition, creating a protected island" for local producers "at the expense of final consumers."

Assofermet warned that, in the event that this latter investigation leading to duties, the distribution sector and many downstream manufacturing sectors would see their competitiveness in international markets undermined. "Further closure measures would in fact trigger an unjustified increase in prices in the EU market, and the manufacturing sectors, already severely hit by the Covid-19 pandemic, would risk procuring supplies at non-competitive costs compared to foreign competitors," the statement reads. Furthermore, new duties would "affect commercial relations with long-term partners, especially Indians", which "are now necessary for the production chain in terms of quality and range."

Furthermore, according to the association, the EU institutions should remedy the "unfair competition" of producers who act as suppliers to both distributors and end-users.

In conclusion, Assofermet assured Italian distributors that it will take charge of bringing their concerns to the highest policy-making institutions in the EU.

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