8/13/2009
NEWS BRIEF
The European Commission launched an anti-dumping and an anti-subsidy investigation on stainless steel fasteners imported from India and Malaysia to the European Union.
The investigation follows a complaint lodged June 30, 2009 by the European Industrial Fasteners Institute on behalf of producers representing a major proportion, in this case more than 25%, of the total community production of stainless steel fasteners and parts. (see FIN 8/4/09).
The dumping margins calculated are “significant” for the countries concerned, according to the EC announcement.
“It is alleged that the volumes and the prices of the imported product concerned have, among other consequences, had a negative impact on the market share held, the quantities sold and the level of prices charged by the Community industry, resulting in substantial adverse effects on the overall performance, and in particular on the profitability of the Community industry,” the EC stated in the Official Journal of the European Union, dated August 13, 2009.
Tariff codes included in the investigation are: 7318 12 10 (wood screws); 7318 14 10 (self tapping screws); 7318 15 30 (headless screws and bolts); 7318 15 51 (slotted and cross recessed screws); 7318 15 61 (hexagon socket head screws); and 7318 15 70 (hexagon bolts).
“Since 2006 imports from (India and Malaysia) have increased dramatically and literally flooded the EU market in 2008, causing considerable injury to the European industries concerned,” claims EUROFER, the European steel makers association.
Provisional decisions on both cases but must be published within 9 months, according to Fastener+Fixing Magazine editor Phil Matten. A final decision on the anti-subsidy case must be published within 13 months as opposed to the 15-month total period for the anti-dumping case. ©2009 GlobalFastenerNews.com and Fastener+Fixing Magazine
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