Platts reported that European Commission has terminated its antidumping investigation into imports of stainless steel cold rolled flat products originating in China, the Republic of Korea, and Taiwan without imposing antidumping duties after the original complainant. The EC will, however, continue to monitor import levels of SSCR products from the three countries for a further two year period.

The investigation was launched on February 1st 2008, following a complaint lodged by Eurofer on December 21st 2007, alleging dumping of SSCR products by the three countries concerned. On November 4th 2008, EC issued an interim report noting that the investigation established provisionally the existence of dumping but did not reach a conclusion on the existence of a material link between dumped imports and any injury suffered by the EU industry.

EC said that on the basis of the provisional findings it was considered appropriate not to impose any provisional measures but to continue the investigation.

EC said that "This withdrawal was prompted by the fact that the current market situation for the community industry differs significantly from the market situation in which the complaint was filed, given that the real and apparent demand has recently collapsed in the EU and this has also led to a decline in imports. In view of these market turbulences, the complainant does not want to pursue its current case which was based on an analysis of historic data that no longer fully reflect the current market conditions."

It added that "Nevertheless, given that at least during part of the investigation period a considerable surge of subject imports in a relative short period of time was found and given the price undercutting established, it is deemed appropriate to monitor imports into the EU of the product concerned."

EC said that the monitoring period should apply for up to 24 months from the publication of the termination of the present proceeding.

from www.platts.com

Source: steelguru.com