7/9/2012 2:23:00 PM
HEADLINES
EU Launches Stainless Steel Fastener Circumvention Investigation
The European Commission initiated an investigation of possible circumvention of antidumping measures on imports of stainless steel fasteners originating in China via Malaysia, Thailand and the Philippines, Fastener + Fixing Magazine reports.
Initiated on the EC’s own initiative, the investigation commenced June 24, 2012.
“The Commission says it has prima facie evidence that antidumping tariffs on stainless steel fasteners are being circumvented by means of transhipment via Malaysia, Thailand and the Philippines,” writes Fastener + Fixing editor Phil Matten.
The alleged evidence reportedly includes changes in the pattern of trade involving exports of the products following the imposition of antidumping tariffs under EU regulation 2/2012.
“The evidence points to the fact that the remedial effects of the existing anti-dumping measures on the product concerned are being undermined both in terms of quantity and price,” according to EC Regulation EU 502/2012. “Significant volumes of imports of the product under investigation appear to have replaced imports of the product concerned.”
“In addition, there is sufficient evidence that imports of the product under investigation are made at prices well below the non-injurious price established in the investigation that led to the existing measures, adjusted for the increase in the costs of the raw material.”
To qualify for exemption, exporters from suspect countries will need to apply to the EC within strict time limits and cooperate with its investigators.
Regulation EU 502/2012 instructs national customs authorities to register imports of the cited stainless steel products from the countries under investigation from the date it commenced. ©2012 GlobalFastenerNews.com and Fastener + Fixing Magazine
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