The EU and Turkey close their markets for Russian and Chinese steelmakers

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The European Commission is preparing for introduction of customs duties on steel products from Russia and China, if it is proved that Russian and Chinese steelmakers have lowered the price of their products. It was reported by Reuters.

This is about cold-rolled steel products shipped by Russia and China to Europe. A duty for Russian products of this kind may reach 26%, and 16% for Chinese, and the duty might be imposed retroactively, and be applied for supplies since mid-December last year.

These new anti-dumping duties could be announced on February 14. The fees are aimed primarily to Severstal and Novolipetsk Metallurgical Plant. An anti-dumping investigation against them was started in May 2015.

The newspaper notes that usually anti-dumping duties are introduced for five years.

Source: news.liga.net