The European Steel Association (EUROFER) has suggested that the European Commission should impose an antidumping duty of €70-75/mt on hot rolled coil (HRC) from Russian steelmaker Severstal, market sources have told SteelOrbis.
The European Commission initiated a partial interim review of antidumping measures applicable to imports of HRC from Severstal about a year ago. The request for the launch of a new investigation was filed by EUROFER on the grounds that the Russian producer significantly increased its shipments to Europe amid increased dumping margins compared to those established in the original investigations.
In the previous investigation, Russia's MMK received a €96.5/mt restriction, NLMK got €53.3/mt, while Severstal got the lowest rate, at €17.6/mt. This allowed Severstal to be the only Russian producer in the EU HRC market. In 2021, according to EUROFER data, imports of Russian-origin HRC in the EU market surpassed two million mt, from around 1.5 million mt in 2020 and 1.3 million mt in 2019.
The European Commission will announce the results of its review in April this year.