The EU is expected to strengthen the steel trade defense
According to industry leaders say, as the global China Hot Dipped Galvanized Steel Sheet
trade war intensified, and the continued influx of imported steel products within the region, the European Commission is expected to further strengthen the steel trade defense measures, perhaps as early as October released.
Over the past year, the European Commission has stepped up trade defense, imported from China for steel, cold-rolled steel and cold-rolled stainless steel and other products 18.4% -25.3% levy anti-dumping duties.
Nevertheless, according to EU data show that as of May this year, a year of steel imports still rose 21%, of which China accounted for 27% of total imports; stainless steel imports over the same period also increased by 17%.
"They know that the European Commission must take action, because other parts of the world imports are defensive," the Austrian voestalpine Group CEO WolfgangEder reporters during a conference call.
President of the International Iron and Steel Association, or WolfgangEder he expected this fall will introduce more "efficient and practical" measure, said 20-30 percent of European tariffs or will support the steel industry to some extent.
European Commission spokesman declined to future trade protection measures to comment.
China has been in the effort to reduce its estimated 300 million tons of excess capacity, while the rise in steel prices also encourages Chinese enterprises to increase production for export. China's steel output in 16 million tons accounted for half of total production.
But the Chinese government has denied dumping of Chinese enterprises, said the global steel overcapacity problem is that after the financial crisis of 2008 caused a substantial decline in steel demand.
But other countries will not agree. The United States has imposed on some Chinese steel products up to 450% tariffs.
Although insiders say they do not advocate American-style protectionism, but the EU decided to renew the protection of steel prices is encouraging.
"China is now engaged in a comprehensive and steel war," said one EU steel industry is aware of the plan, EU officials said.
The key point will probably be in October, when the EU will probably implementation time frame tariffs reduced from nine months to seven months, and to diminish or eliminate tariffs severely restricted "low tax rules from the" (lesserdutyrule).
"Understanding between EU member states with some changes, which we welcome, but we could call on them to take more steps to efficiently and effectively protect the industry," said a spokesman for the European steel association Eurofer said.
The EU will in November on the implementation of the preliminary anti-dumping duties against imports from China ruled steel and hot-rolled coil.
Industry representatives will be expected to make a positive decision, adding that in addition to the EU action to protect steelmakers and re-take the UK out of the EU referendum in June, the EU should also make emancipated.
Britain is one of the few EU member states opposed the imposition of tariffs, because of their fear that this will lead to Chinese government retaliation.
"After (UK) referendum, we believe that the possibility of the EU political bias from local steelmakers great," Berenberg analyst AlessandroAbate said.
The EU has been imported from external steel products, 37 anti-dumping and countervailing measures, of which 15 related to China.