9/2/2009
HEADLINES
PERSPECTIVE: EU Probes Stainless Fasteners from India and Malaysia

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 more than 25%, of the total community production of stainless steel fasteners and parts.

“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.

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. ©2009 GlobalFastenerNews.com

Related Stories:

• China Files WTO Complaint Against EU Screw Tariffs

• EU Approves Duty on Chinese Wire Rod

• Stainless Fastener Producers Allege Dumping from India and Malaysia