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Iranian steel exporters hit by EU anti-dumping crackdown

Iran's Minister of Industry Mohammad Reza Nematzadeh. (AP)
LONDON: Iran has been caught up in a European Union crackdown on alleged predatory pricing by producers of hot-rolled steel, and is one of several countries facing anti-dumping duties.
The move follows complaints from European manufacturers of excessively low pricing by companies based in Iran, Brazil, Russia and Ukraine.

Anti-dumping tariffs of between €17.6 and €96.5 ($20.6-$112.8) per ton will be imposed from Oct. 7, the EU said on Thursday.

Iranian steel would be subject to a duty of €57.5 per ton and Ukraine’s Metinvest Group €60.5 per ton.

The European Commission had initially proposed setting a minimum price of €472.27 per ton — but revised its proposal after failing to secure backing from EU member states.

Among the companies subject to tariffs were the Brazilian arm of ArcelorMittal and Aperam, both of which also produce in Europe. Others hit include Companhia Siderugica Nacional, Usinas Siderugicas de Minas Gerais and Gerdau — at rates of between €53.4 and €63 per ton.

Rates for Russia producers varied from €17.6 for PAO Severstal, €53.3 for Novolipetsk and €96.5 for MMK.

In April, the EU took action to protect its steel producers from Chinese exports of hot-rolled flat steel products following dumping allegations by European interests.

Punitive duties were imposed on Chinese producers for an initial period of five years following a lengthy investigation.

Hot-rolled flat steel is used for the production of steel tubes, used in construction, and for shipbuilding, gas containers, cars, pressure vessels, and energy pipelines.

The EC has disclosed it currently has in force an unprecedented number of trade defense measures targeting “unfair” exports of steel products from third countries, with a total of 41 anti-dumping and anti-subsidy measures, 18 of which on products originating from China.

The EU said it is also tackling overcapacity in the global steel industry through involvement in a global forum that was launched at the end of last year.

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