BRUSSELS, June 26 The European Commission has
launched an investigation into Chinese and Taiwanese stainless
steel makers after a complaint from European rivals who say they
are exporting at unfairly low prices.
The Commission, the EU executive, said in its official
journal on Thursday that EU steel association EUROFER's
complaint of May 13 provided evidence that increased exports to
Europe from Chinese and Taiwanese producers had had a negative
impact on EU peers.
The Commission's anti-dumping investigation will last up to
15 months, with the possibility of provisional measures being
imposed within nine months. Punitive import duties, when
imposed, typically last five years.
EU imports of cold-rolled stainless steel sheet from China
and Taiwan totalled 758 million euros ($1 billion) last year,
according to Eurostat, a 10-fold increase from the value in
EU production in 2012, the last year for which data is
available, was worth 23.6 billion euros.
(Reporting By Philip Blenkinsop; editing by Robin Emmott)