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The European Commission has extended definitive countervailing duties on stainless steel cold rolled flat product imports originating in Indonesia, to material produced in Taiwan, Turkey, and Vietnam.
A standard duty of 20.5% will be imposed on specified imported material from these countries after the Commission revealed the findings of its investigation into the potential circumvention of the existing Indonesian countervailing (CVD) measures.
The investigation, which covered a period from January 1, 2020, to June 30, 2023, determined that imports from these countries had circumvented the countervailing duty on Indonesian stainless steel cold rolled (SSCR) flat products.
The European Commission will now extend the existing Indonesian CVD measures to imports of SSCR flat products from Taiwan, Turkey, and Vietnam.
MEPS International steel market analyst, Jonathan Carruthers-Green, said: “Buyers are not likely to welcome this ruling as it decreases import opportunities at a time when everyone is struggling with tight margins.
“Having said this, at least there is now some resolution. The investigation has been the talk of the market since it was first announced in August last year. There has been a lot of uncertainty amongst traders who have been concerned that they may need to seek new sources of material.”
Definitive countervailing duties, ranging between 0% and 21.4%, with a residual duty of 20.5% for non-cooperating Indonesian companies, were initially imposed on Indonesian-origin SSCR flat products in 2022.
