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EU Extends AD Duties on Stainless Steel Fasteners
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2012-03-14
Concluding its expiry review and as widely expected, the EU issued Council Regulation 2/2012 effective 7th January, imposing definitive anti-dumping duties for a further five years on certain stainless steel fasteners and parts originating in the People's Republic of China and Taiwan.
Expiry reviews only consider whether the removal of existing anti-dumping measures would be likely to result in a reoccurrence of the dumping on which the original measures were based. Neither the scope of products involved nor the levels of anti-dumping duties may be modified as part of the review process.
The review was requested by the European Industrial Fasteners Institute on behalf of five EU producers, assessed to represent more than 25 percent of total EU production of stainless steel fasteners. The review request was limited to imports from China and Taiwan. Anti-dumping tariffs previously in place under Regulation 1890/2005 on imports from Vietnam, Indonesia and Thailand were, therefore, terminated at the end of 2010.
Chinese exporters refused to cooperate in the investigation. From thirty-six Taiwanese companies that came forward, the investigation selected a sample of four. One subsequently withdrew its cooperation but the remaining three were judged to represent 41.6 percent of Taiwanese exports of the cited products.
The investigation concluded that exports from Taiwan were still being dumped and that there was a likelihood of continuation of dumping if the existing anti-dumping measures were removed. Given levels of spare capacity assessed to exist in Taiwan, the investigation went further in concluding that there appeared to be an incentive for Taiwanese exporters to increase exports to the EU, if the current measure were allowed to lapse. The investigation determined that, during the period under investigation, imports from China and Taiwan increased by 3 percent compared with 2007 and by up to 43 percent compared with 2009. The regulation also identifies increased imports particularly from India, the Philippines and Malaysia. The investigation determined that while EU consumption remained stable during the period under consideration, EU manufacturers lost 25 percent of sales volume to EU markets. It assesses that indicators of injury sustained by EU producers had "developed negatively" with profitability falling to a negative value.
"The situation of the Union industry," the regulation concludes, "remains vulnerable. If the Union industry were to be exposed to increased volumes of imports from the countries concerned at dumped prices, this would be likely to result in a further deterioration of its sales, market share, sales prices, as well as a consequent deterioration of its financial situation. On this basis, it is therefore concluded, that the repeal of the measures would in all likelihood result in a worsening of the already fragile situation, and a continuation of material injury to the Union industry."
Definitive anti-dumping duty was, therefore, confirmed on certain stainless steel fasteners and parts thereof falling within CN codes: 7318 12 10, 7318 14 10, 7318 15 30, 7318 15 51, 7318 15 61 and 7318 15 70 originating in the People's Republic of China and Taiwan. Unless otherwise ruled, the duty will apply for a five-year period. With the exception of exporters specified in the regulation and granted individual duty levels, the anti-dumping duty rate on imports from China continues at 27.4 percent and from Taiwan at 23.6 percent.  A full PDF copy of Regulation 2/2012 can be downloaded from the EU Trade website. The link to the version in English is:
http://trade.ec.europa.eu/doclib/docs/2012/january/tradoc_148952.def.en.L5-2012.pdf
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reference from Fastener & Fixing Magazine, arranged by Fastener World Inc.
2012-03-14
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