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The EU will apply tariffs of about 24-25 percent
for imports from China and of about 11-12 percent for Taiwanese
product, following a complaint lodged in May 2014 by the
European steel producers association, Eurofer.
Eurofer has said China and Taiwan shipped 620 million euros
($677.7 million) of cold-rolled stainless steel into the EU in
2013, some 17 percent of the overall market, and were guilty of
dumping, or selling at unfairly low prices.
The duties, set by the European Commission, are provisional
pending the outcome of an investigation due to end in September.
The figures are in line with those reported exclusively by
Reuters this month.
The import tariff has been set at 24.3 percent for China's
Shanxi Taigang Stainless Steel Co <000825.SZ> and Tianjin TISCO
& TPCO Stainless Steel Co, 24.5 percent for other cooperating
companies and at 25.2 percent for China's Baosteel Stainless
Steel Co <600019.SS>, Ningbo Baoxin Stainless Steel Co and other
Chinese companies.
For Taiwanese manufacturers, the rates are 10.9 percent for Tang
Eng Iron Works Co, Yieh United Steel Corp (Yusco) <9957.TWO> and
cooperating companies and at 12.0 percent for Chia Far
Industrial Factory Co and other companies that did not cooperate
with the EU investigation.
A parallel investigation into alleged illegal subsidies for
Chinese producers is also due to end in September.
Europe's largest stainless steel producers are Acerinox,
Outokumpu and Aperam.
($1 = 0.9149 euros)
(Editing by Robert-Jan Bartunek and Mark Potter)
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