Duties can remain effective for five more years, canceled or recalculated in conclusion of the probe.

The European Commission (EC) has technically extended antidumping duties against Russian and Chinese steel due to expire on August 5, a source in EC told TASS on Wednesday.

"Antidumping duties in respect of Russia and China will remain effective until the procedure for reassessment of these measures is completed. Such procedure can last for 15 months. The effect of duties is technically extended until its completion. The task of this procedure is to find out whether pricing for steel products from Russia and China changed and whether it violates EU competition standards or not," the source said. In spring 2021, Eurofer, the European association of steelmakers, filed a request to EC for extension of EU antidumping duties against Russia and China.

Duties can remain effective for five more years, canceled or recalculated in conclusion of the probe, the source said. In case of their extension the term for duties will start from August 5, 2021. In case of their cancellation the European Commission is to compensate money collected for the period from August 5, 2021 to steel exporters from Russia and China.

Antidumping duties for various kinds of steel products from Russia and China ranges from 13% to 36%.

Source: TASS