EU Terminates The Threat Of Tariffs On Steel Tubes

Bloomberg reported that the European Union (EU) has terminated the threat of tariffs on steel tubes from Turkey, Ukraine and Belarus after the recession prompted EU producers to withdraw a complaint alleging price undercutting.

Per the report, the European Commission (EC) closed an inquiry into whether Turkish, Ukrainian and Belarusian exporters of welded tubes, pipes and hollow profiles sold them in the 27-nation EU below cost, a practice known as dumping. EU producers include the UK’s Corus Group, Italy’s
Marcegaglia and Spain’s Condesa Fabril.

In June of this year, the EC said the complainant formally withdrew its complaint. According to the complainant, this withdrawal was prompted by the fact that the current market situation for the EC industry differs significantly from the market situation in which the complaint was filed, given that the real and apparent demand has recently collapsed in the EU and this has also led to a decline in imports.