EU Starts Anti-dumping Review on China's Steel Ropes

13/10/2011 12:00 - 410 Views

BEIJING, Oct 10, 2011 (SinoCast Daily Business Beat via COMTEX) -- The European Commission announced on September 30 that it decided to begin an anti-dumping review investigation against steel ropes and cables from China and transported via South Korea.

The European side launched an anti-dumping investigation against China's steel ropes and cables in May 1998. Later, a YES final ruling was yielded and anti-dumping tax was imposed. The tax was not cancelled after a sunset review in 2005, with the tax rate for all Chinese companies being 60.4%.

The European Commission launched an anti-evading investigation in 2009 and ruled that steel ropes and cables originated in China and transported via South Korea to Europe constituted evasion by transshipping and assembling. Thus, the commission decided to expand the range of anti-dumping investigation to South Korea but excluded such products made by 11 South Korean companies.

October 10, 2011
Source: http://stock.hexun.com