EC terminates investigation of CVD order on HRC from Turkey

Wednesday, 07 April 2021 15:20:39 (GMT+3)   |   Istanbul
       

The European Commission Directorate-General for Trade has announced that it has terminated the investigation of the countervailing duty (CVD) order on hot rolled flat products of iron, non-alloy or other alloy steel (HRC) imports from Turkey. The commission noted that there was no evidence that the countervailing duty would be in the EU’s interest. There is a material shortage in the EU, especially for flat products, leading prices to move up further.

The review was initiated on June 12, 2020, following the petition of the European Steel Association (EUROFER), while on March 24 this year EUROFER withdrew its request. EUROFER has been promoting stricter trade measures against imports, against the objections of steel users struggling to find material in the domestic market.

Meanwhile, the safeguard measures, which will expire on June 30, are being reviewed by the Commission whether to be extended or not. A coalition of European downstream users of steel was urging the European Commission not to extend safeguard measures, as the possibility of extending the safeguard measures adds to the uncertainty and adverse market conditions that steel users are currently facing, as SteelOrbis previously reported.


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