According to the European Commission, there are no arguments in favor of bringing the investigation to an end and introducing countervailing duties would be in the interests of the European Union. On the contrary, there is already an acute shortage in the regional market of sheet metal, leading to a further increase in prices.
The Eurofer Metallurgical Association, on whose initiative this investigation was launched, withdrew the claim at the end of March, although it had previously consistently advocated restricting the import of steel products.
Currently, the EU has anti-dumping duties on Turkish hot-rolled products, which came into force in January of this year. Their rate ranges from 4.8 to 7.6%.
Many European consumers of steel products are calling on the European Commission not to extend the quotas for steel imports, which expire on June 30. The European Commission is conducting a second investigation on this issue, and the uncertainty of the situation has a negative impact on the market.
Although April has just begun, India has already exhausted the quota for the second quarter for the supply of hot rolled products, Russia — for rebar, wire rod and profile pipes, and Turkey — for some categories of pipes and long products.