EU Upholds Stainless Steel Anti-Dumping Duties On China And Taiwan

EU Upholds Stainless Steel Anti-Dumping Duties On China And Taiwan

More anti-dumping duties on Chinese and Taiwanese stainless steel have been upheld, this time in Europe. A major nickel producer is also slashing output.

European Union member states have backed the imposition of anti-dumping duties on imports of cold-rolled, flat stainless steel from China and Taiwan, Thomson Reuters reported.

The EU will charge tariffs of between 24.3% and 25.3% for sheet, coil and strip imports from China and of 6.8% for Taiwanese product, following a complaint lodged in May 2014 by the European Steel Producers Association, Eurofer.

Australian nickel miner Mincor Resources NL (ASX:MCR) said on Wednesday it will reduce production by up to 56% over the six months ending in December due to persistent low nickel prices that have left operating levels unsustainable.

Source: www.investing.com

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