EU states approve electrical steel minimum prices
European steel makers have won the support of European Union governments to impose minimum prices on certain imports of electrical steels from the U.S., Russia, Japan, China and South Korea, Transformers Magazine has learnt.
European steel makers have won the support of European Union governments to impose minimum prices on certain imports of electrical steels from the U.S., Russia, Japan, China and South Korea, Transformers Magazine has learnt.
National trade representatives backed a European Commission proposal to impose antidumping duties of up to 39% on American, Russian, Japanese, Chinese and Korean shipments of grain-oriented electrical steel (GOES) sold below set minimum prices until late 2020.
European Commission has already found evidence of severe dumping of GOES on the EU market, which has resulted in significant losses for EU producers, and has damagingly undermined the EU’s GOES-transformer value chain.
The measures are due to come into force by 14 November.
Source: Transformers Magazine
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