The European Commission (EC) has announced that it has decided to impose a provisional antidumping (AD) and countervailing duty (CVD) on stainless steel wire imports from India.
The provisional antidumping duties for Indian producers/exporters range between 24.4 percent and 32.3 percent, while the countervailing duties for Indian producers/exporters range between zero percent and 4.3 percent.
As SteelOrbis previously reported, the EC initiated duty investigations for the stainless steel wire imports from India upon a complaint received from the European Steel Association (EUROFER). The products subject to investigation currently fall within CN codes 7223 00 19 and 7223 00 99.
Meanwhile, EUROFER announced that it welcomes the EC's decision regarding imposition of provisional duties on the abovementioned imports from India, underlining that dumped imports from India now represent over 19 percent of European Union consumption of stainless steel drawn wire. At the same time, they make up more than 50 percent of total imports into the EU.
EUROFER director general Gordon Moffat pointed out that the 15 percent export duty on stainless steel scrap introduced by the Indian authorities has contributed to lowering prices of downstream products such as stainless drawn wire.