BRUSSELS: The European Union on Thursday hit China and Russia with anti-dumping duties on cold rolled steel imports after complaints by EU producers they were being forced out of the market.
The European Commission said the levies, announced provisionally in February, will run for five years as Europe tries to cope with a global steel glut largely driven by massive Chinese output.
“In the wake of the global steel overcapacity crisis, the Commission is applying the trade defence instruments to re-establish a level-playing field between EU and foreign producers,” it said in a statement.
Cold rolled steel is used extensively by industry to make all sorts of goods and appliances, from automobiles to refrigerators.
The Commission said the anti-dumping duties on Chinese cold rolled steel will range from 19.7 percent to 22.1 percent, and from 18.7 percent to 36.1 percent for Russian companies.