BRUSSELS:
The European Union has found that imports of cold-rolled stainless steel flat products from India and Indonesia benefit from unfair subsidies and imposed tariffs, on top of those already in place, to prevent dumping.
The European Commission, which conducted the investigation, has set the anti-subsidy tariffs at between 4.3 percent and 21.4 percent, the EU’s official gazette said on Wednesday.
The Indonesian IRNC is facing a new rate of 21.4 percent, bringing the total rate, including anti-dumping duties, to 30.7 percent.
The new rates for India’s Jindal Stainless Ltd and Jindal Stainless Hisar Ltd are 4.3 percent, bringing the total rate to 14.3 percent.
The Commission said the subsidies took the form of preferential loans, duty waivers and cheap supplies of raw materials.
The Commission said the new tariffs are intended to repair damage to EU producers such as Acerinox and Outokumpu, which will take effect from Thursday.