trending Market Intelligence /marketintelligence/en/news-insights/trending/G16Xhr9y1m9ZHG-lvIkY6w2 content esgSubNav
In This List

EU launches another probe into Chinese steel imports

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Blog

Insight Weekly: US bank M&A; low refinancing eases rates impact; Texas crypto mining booms

Blog

Insight Weekly: US stocks hit grim milestone; top European banks tumble; TMT IPOs plunge

Video

Gold and Copper Summit 2022: Overview of Global Gold Markets in 2022 and Beyond


EU launches another probe into Chinese steel imports

The European Union launched a new probe into cheap Chinese steel imports, this time looking into whether Chinese producers of certain corrosion-resistant steel products are selling at unfairly low prices, after receiving a complaint from EU steelmakers association Eurofer, Reuters reported Dec. 9.

The commission also noted it would initiate another anti-dumping investigation into certain cast iron products from China and India as well as determine whether existing duties on Chinese steel seamless pipes and tubes should continue for another five years.

A China Commerce Ministry official said Beijing attached a "high degree of attention and concern" to the case and that Europe's steel problems were due to its own weak economic growth.

Wang Hejun added that Europe should rationally analyze its steel industry's problems and should not "adopt mistaken trade protectionist measures that limit fair market competition."

The EU has 40 anti-dumping and anti-subsidy measures in place, of which 18 are on Chinese products. Meanwhile, 20 more investigations related to steel are still ongoing, including three for which provisional duties are in place.