NEWS

Serbian steel mill's exports to EU to stay unaffected by anti-dumping duties on Chinese products

Wednesday, Feb 01, 2017

The introduction of anti-dumping duties by the EU on steel products originating in China will not affect the exports of Serbian steel mill Zelezara Smederevo owned by Chinese producer Hesteel, the delegation of the European Union to Serbia said on Tuesday.

The European Commission decided on Friday to impose definitive anti-dumping measures on two steel products originating in China and Taiwan after a probe by the Commission confirmed that those products had been sold in Europe at dumped prices.

"This decision has no impact on the import of Serbian steel in the EU. It is limited to exports from China and Taiwan of stainless steel tube and pipe butt-welding fittings," the EU delegation to Serbia said in a statement.

However, the Commission could initiate an investigation if Chinese companies attempt to trans-ship steel to sell it in the EU as produced in Serbia, the delegation added.  

According to Friday's decision, the EU will start taxing Chinese exports of the two products with anti-dumping duties ranging from 30.7% to 64.9%. Taiwanese exports will face anti-dumping duties ranging from 5.1% to 12.1%

On Friday, Serbian news agency Beta quoted a consultant of Hesteel, Mahmud Busatlija, as saying that the EU anti-dumping duties will affect the exports of steel produced by Zelezara Smederevo, as the measure targeted all steel mills owned by Chinese companies.

"The Delegation of the European Union rebuts as “false news” speculation that the Zelezara Smederevo steel plant is affected by the European Commission’s decision," according to the statement.

Hesteel officially took over the management and ownership of Zelezara Smederevo in July. In April, Serbia's government agreed to sell the steel mill to Hesteel, after the Chinese investor submitted a binding offer to buy all 98 property units of Zelezara Smederevo for a total of 46 million euro ($49.2 million).
 

Source:seenews.com

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