The European Fastener Distributor Association (EFDA) has commented on the possible decision of the European Commission to impose provisional antidumping duties on the imports of iron and steel fasteners from China, highlighting that the EU economy is already threatened by fastener shortages, according to media reports. The decision will be made within the next few weeks.
“With antidumping duties on Chinese fasteners, the supply of screws and other fasteners to the European economy could no longer be ensured. High capacity utilization, raw material shortages and shipping problems have already thrown international supply chains into unprecedented chaos, making it impossible for European fastener distributors to supply European industry, trade and crafts with fasteners in time,” Volker Lederer, president of the EFDA, commented, adding that the EU would create the ‘perfect storm’ if it were to impose additional duties on imports of iron and steel fasteners from China.
In December last year, the European Commission initiated the antidumping investigation on imports of the given products from China, as SteelOrbis understands. Up to 85 percent duties on Chinese products from 2009 to 2016 led trade with China to come to a complete standstill, damaging the European economy.