European Commission sets 24% anti-dumping duty on Chinese wire rod

EU member states have agreed to support a proposal of the European Commission to impose an anti-dumping duty of 24% on imports of wire rod from China. The measure is applicable for five years as from the beginning of August 2009. The European Confederation of Iron and Steel Industries (Eurofer) strongly welcomed the decision. "We are satisfied with this outcome which sends out the clear message that unfair trade practices are not tolerated by Europe”, said Gordon Moffat, Eurofer director general. "Since the onset of the financial and economic crisis we have seen a proliferation of protectionist measures worldwide which is affecting about 70% of world steel production”, Moffat explains. Europe is notable by the complete absence of protectionist measures on its market.

© 2009 Verlag Stahleisen GmbH