The European Union has set a provisional anti dumping duty on heavy steel plates and hot rolled coil coming from China.
The duties are set at between 13.2 and 22.6 per cent for HRC and between 65.1 and 73.7 per cent for heavy-plate steel, according to a filing in the European Union’s official journal.
The hot-rolled steel case includes Bengang Steel Plates Co Ltd and Hebei Iron & Steel Co Ltd and units of Jiangsu Shagang Group.
The heavy plate steel case covers Nanjing Iron & Steel Co Ltd, Wuyang Iron and Steel Co and Minmetals Yingkou Medium Plate Co Ltd.
Anti dumping probe started in the month of Feb 2016 on the basis of European steel manufacturers’association( Eurofer) petition that Chinese producers’ share of the EU market in heavy-plate steel, used in construction, mining and shipbuilding, grew to 14.4 per cent in 2015 from 4.6 per cent in 2012, while the average price dropped by 29 per cent over the same period.
Provisional Anti-Dumping Duty Rates as Applicable
| Company | Provisional Duty Rate |
| Nanjing Iron and Steel Co., Ltd | 73,1% |
| Minmetals Yingkou Medium Plate Co., Ltd | 65,1% |
| Wuyang Iron and Steel Co., Ltd and Wuyang New Heavy & Wide Steel Plate Co., Ltd | 73,7% |
| Other Cooperating Companies listed in Annex | 70,6% |
| All Other Companies | 73,7% |
Indian Plates Prices Rise
As per market sources, Indian manufacturers have increased their HR plates export offers by USD 5-10/MT. Currently plates prices are assessed at USD 410-420/MT, FoB India basis. With the imposition of anti-dumping duty on Chinese plates in EU, Indian exporters will have an edge over Chinese material in European countries.
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