EU raises anti-dumping tariffs on Chinese steel to save its own steel industry

In order to save European steel producers who have fallen into overcapacity, the EU once again raised anti-dumping tariffs on certain imported steel products from China.

On July 29, the European Union announced an anti-dumping duty rate of 18.4%-22.5% on rebar from China. Rebar is a steel that is mostly used to reinforce concrete.The European steel industry has its own structural crisis, overcapacity, and demand is still at a low level. The European Steel Union and local steel mills have filed multiple anti-dumping investigations seeking to restrict steel imports, and China has naturally become the main target of its anti-dumping.

According to data provided by Li Xinchuang, President of the Metallurgical Industry Planning and Research Institute, China's steel exports to more than 230 countries or regions. In 2015, China's steel exports were 110 million tons, of which the total exports to the EU were more than 8 million. Ton.

"China's steel exports are in many directions, not only in the EU, but mainly in Southeast Asian countries. In addition, rebar only accounts for a small part of China's exports of EU steel, so the symbolic significance of increasing the anti-dumping duty rate on rebar is greater." The analyst said