“The European Union is planning to impose duties of up to 33% on hot-rolled steel imports from Brazil, Iran, Russia and Ukraine to counter what it sees as unfairly low prices, according to a document seen by Reuters,” reads the report.
The European Commission launched an investigation into hot-rolled steel from Brazil, Iran, Russia and Ukraine as well as Serbia in July 2016, following a complaint by European steel association Eurofer.
According to the results of the investigation, hot-rolled steel from all the countries, apart Serbia, grew to 2.6 % on the EU market in the mid-2016, from 7.5 % in 2013. At the same, prices fell by about a quarter.
The European Commission terminated its investigation into Serbian steel imports with no tariffs set and imposed duties for other producers, in particular for Ukraine's Metinvest Group in the amount of about 19.4 %, according to the document.
Definitive duties need to be applied by October 6.
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