EC introduces duties on stainless steel from Russia & Turkiye for 5 years

The European Commission (EC) has imposed duties on stainless steel exports from Russia and Turkiye for the next five years, Report informs referring to the EC.

The organization made the relevant decision after the completion of the anti-dumping investigation. It showed that steel from the Russian Federation and Turkiye was supplied to the European Union at prices below the market average.

As a result, the duty amounted to 10.5% for the Turkish asset of MMK Metalurji, for other Turkish steel producers - from 2.4% to 11%. The anti-dumping duty on the metal of the Magnitogorsk Metallurgical Plant (MMK) is 36.6%, Novolipetsk - 10.3%, Severstal - 31.3%, all other plants - 37.4%.

The EC notes that since 2017, imports of Russian and Turkish stainless steel have increased by more than 5 times, from 196,643 tons to more than 1 million tons. The share of Russia and Turkey in the European market increased from 2.2% to 13.1%.

The investigation was initiated by the European Steel Association. The subject of the investigation was rolled steel with galvanized, magnesium, aluminum coatings. Transformer and high-speed steel were not included in the investigation.

Severstal and MMK are under EU sanctions. In March, the European Union banned the import of rolled steel, fittings, welded and seamless pipes from Russia, but the supply of steel semi-finished products is still ongoing.