trending Market Intelligence /marketintelligence/en/news-insights/trending/0_jhrubLXNoG10U6Zvyjpg2 content esgSubNav
In This List

EU slaps antidumping duties of up to 66.4% on Chinese steel road wheels

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


EU slaps antidumping duties of up to 66.4% on Chinese steel road wheels

The European Commission imposed provisional antidumping duties on steel road wheels from China while opening a separate anti-subsidy investigation into certain steel imports from the East Asian country and Indonesia.

A provisional antidumping duty of 50.3% will be collected for imports from Xingmin Intelligent Transportation Systems (Group) Co. Ltd., Tangshan Xingmin Wheels Co. Ltd., Xianning Xingmin Wheels Co. Ltd. and other cooperating companies. All other Chinese companies will be charged the top rate of 66.4%.

The commission found that Chinese steel road wheel imports doubled to more than 2 million in 2018 from around 1 million pieces sold in 2015, corresponding to a market share increase to 5.3% from 2.6% during the period.

"Provisional measures should be imposed to prevent further injury being caused to the [EU] industry by the dumped imports," the Commission said in an Oct. 10 filing. The investigation that resulted in the antidumping duties were initiated in February following a complaint filed a month before by the Association of European Wheels Manufacturers, which represented more than 25% of the total production of steel road wheels within the EU.

Meanwhile, the commission also filed a separate notice regarding its investigation into allegations that China and Indonesia are subsidizing their own steelmakers, which go on to flood the European market with cheap exports. The commission is acting on an Aug. 26 complaint by the European Steel Association, representing four steel producers responsible for the entire production of certain hot rolled stainless steel sheets and coils within the EU.

European steelmakers are accusing Chinese and Indonesian firms of negatively impacting their business and have warned that volume and price pressure from the situation could lead to further damage.

Trade tensions have been building between the EU and China, with the European Commission seeking to limit cheap Chinese imports through tariffs.