UK seeks lifting of antidumping measures on Chinese rebar amid low supplies

The U.K.'s Trade Remedies Authority proposed July 13 to lift antidumping measures on high fatigue performance steel concrete reinforcement bars sourced from China due to a lower supply outlook.

These types of steel materials are also known as HFP rebar or reinforcement steel.

Continuous implementation of the antidumping measures, which came into effect in 2016, "would not be in the economic interests of the U.K. as there is currently a high demand for affordable imported HFP Rebar from the U.K. construction sector in particular," the Trade Remedies Authority said in a statement.

In 2020 and 2021, the U.K. imported 27% of its rebar from Belarus, Russia and Ukraine. However, imports are expected to drop significantly due to sanctions associated with Russia's ongoing invasion of Ukraine, which will likely result in higher prices.

"Our judgement is that the impact on the British economy of higher prices would significantly outweigh the impact on the sole U.K. producer of rebar of removing tariffs on Chinese imports," the agency's CEO, Oliver Griffiths, said.

The regulator's proposal is subject to a 30-day consultation, after which it will make a final recommendation to the U.K.'s secretary of state for international trade.

S&P Global Commodity Insights produces content for distribution on S&P Capital IQ Pro.