EU sets provisional tariffs on Chinese aluminium products

Elvalhalcor Hellenic Copper and Aluminium Industry SA

12/04/2021 09:00

BRUSSELS, April 12 (Reuters) - The European Union has set
provisional tariffs on aluminium flat-rolled products from China
after an initial investigation found they were being sold into
the bloc at artificially low prices.
    The European Commission has set duties of between 19.3% and
46.7%, the EU's official journal said on Monday. The Commission
oversees trade policy in the 27-nation European Union. 
    The lowest rate will apply to companies of the Nanshan
Group, such as Shandong Nanshan Aluminium Co  600219.SS , while
Jiangsu Alcha Aluminium Group Co  002160.SZ  will face duties of
28.3%.
    The anti-dumping duties, to come into force on Tuesday, will
apply while the investigation continues. It is due to conclude
in October, when tariffs may be set for five years.
    The investigation to date showed Chinese exporters increased
their share of the EU market from 6.2% in 2017 to 11.2% in the
investigation period from mid-2019 to mid-2020, while prices
declined by 9%.
    Over the same timeframe, EU producers turned from being
profitable into making losses, the Commission's investigation
found.
    The investigation was launched after a complaint from trade
association European Aluminium, whose members include Norsk
Hydro  NHY.OL  and Elvalhalcor  ELHA.AT .  

 (Reporting by Philip Blenkinsop; editing by Jason Neely)
 ((philip.blenkinsop@thomsonreuters.com; +32 2 585 2869; Reuters
Messaging: philip.blenkinsop.thomsonreuters.com@reuters.net))