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China, Russia Steel Hit With 5-Year EU Anti-Dumping Tariffs

  • EU sets levies as high as 36.1% on cold-rolled products
  • Definitive duties set after provisional measure in February
Updated on

Chinese and Russian producers of non-stainless steels were hit by the European Union with five-year tariffs as high as 36.1 percent after the EU found that imports from the two countries unfairly undercut manufacturers in Europe such as ThyssenKrupp AG and ArcelorMittal.

The definitive duties punish Russian and Chinese exporters of certain cold-rolled flat products of iron or non-alloy steel for allegedly selling the goods in the EU’s 4.5 billion-euro ($5 billion) market below cost, a practice known as dumping. The targeted producers of this kind of steel -- used in products from washing machines and air-conditioning equipment to automobiles and power lines -- include Russia’s Magnitogorsk Iron & Steel Works OJSC, Novolipetsk Steel PJSC and Severstal PJSC; and China’s Angang Steel Co. and Shougang group.