BRUSSELS Dec 9 The European Union has launched
an investigation into whether Chinese producers of certain
corrosion resistant steels are selling into Europe at unfairly
low prices, in its latest action against cheap Chinese steel
The European Commission has determined that a complaint
brought by EU steel makers association Eurofer merits an
investigation, the EU's official journal said on Friday.
The EU has imposed duties on a wide range of steel grades
after investigations over the past few years to counter what EU
steel producers say is a flood of steel sold at a loss due to
Some 5,000 jobs have been axed in the British steel industry
in the last year, as it struggles to compete with cheap Chinese
imports and high energy costs.
G20 governments recognised in September that steel
overcapacity was a serious problem. China, the source of 50
percent of the world's steel and the largest steel consumer, has
said the problem is a global one.
In October, the European Commission set provisional import
tariffs of up to 73.7 percent for heavy plate steel and up to
22.6 percent for hot-rolled steel coming from China. Those
investigations are set to conclude in April.
In anti-dumping cases, the Commission typically has up to
nine months to determine whether there are grounds for imposing
provisional duties on a product and then a further six months to
determine whether duties should apply as long as five years.
(Reporting By Philip Blenkinsop; editing by Robert-Jan