EU imposes import duties on China, Indonesia, Taiwan stainless steel

FILE PHOTO: A stainless steel product line is seen at a factory of Baosteel Group Corp., China's biggest steel maker, in Shanghai July 6, 2010. REUTERS/Aly Song

BRUSSELS (Reuters) - The European Union will impose tariffs on imports of hot-rolled stainless steel coils and sheets from China, Indonesia and Taiwan after an investigation found they were being sold at artificially low prices.

The European Commission, which conducted the investigation, has set duties of up to 19% for imports from China, of 17.3% for product from Indonesia and up to 7.5% for stainless steel from Taiwan, the EU’s official journal said on Wednesday.

The Commission said that the anti-dumping duties, to take effect from Thursday, aim to remedy the damage caused to EU producers located mainly in Belgium, Italy and Finland.

(This story was refiled to add Taiwan to headline)

Reporting by Marine Strauss and Philip Blenkinsop, editing by Robin Emmott