EU starts investigation into Chinese steel wheel imports

Jantsa Jant Sanayi ve Ticaret

15/02/2019 09:21

BRUSSELS, Feb 15 (Reuters) - The European Commission has
begun an investigation into whether Chinese producers are
dumping steel vehicle wheels into Europe at excessively low
prices, the EU official journal said on Friday.
    The journal entry said the complainant, the Association of
European Wheel Manufacturers (EUWA), had provided evidence that
Chinese wheel imports had increased to gain market share,
harming EU manufacturers.
    EUWA, whose members include units of Jantsa SA  JANTS.IS ,
Superior Industries  SUP.N , GKN  GKNA.L  and Arconic  ARNC.N ,
referred in its complaint to distortions of the Chinese energy
market, steel overcapacity and EU trade measures restricting 
imports of many grades of steel, but not all steel products, to
the bloc.
    The association says that the European market for steel
wheels is worth some 1.5 billion euros ($1.7 billion), while the
market for aluminium wheels is worth 4.5 billion euros per year.
    The investigation could lead to provisional duties being
applied within nine months and definitive duties, typically in
place for five years, in 15 months.
($1 = 0.8871 euros)

 (Reporting by Philip Blenkinsop
Editing by Mark Heinrich)
 ((philip.blenkinsop@thomsonreuters.com; +32 2 287 6838; Reuters
Messaging: philip.blenkinsop.thomsonreuters.com@reuters.net))