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Sector
Basic Materials
Size
Large Cap
Market Cap £102.06bn
Enterprise Value £105.94bn
Revenue £31.75bn
Position in Universe 13th / 1827

EU imposes tariffs on Chinese aluminium producers

Tue 30th March, 2021 3:39pm
BRUSSELS, March 30 (Reuters) - The European Union has
imposed duties on aluminium products imported from China after
an investigation showed that they were being sold at unfairly
low prices, the EU official journal said on Tuesday.
    The European Commission, which oversees trade policy for the
27-nation European Union, has set anti-dumping duties of between
21.2% and 31.2% on Chinese producers of aluminium extrusions in
the form of bars, rods, profiles or tubes.
    The tariffs are lower than the provisional duties of 30.4%
to 48.0% imposed midway through the investigation.  urn:newsml:reuters.com:*:nL8N2H41SN
    The Commission opened an investigation in February 2020 into
the products widely used in transport, construction and
electronics after a complaint from industry body European
Aluminium.
    Members of European Aluminium include Norsk Hydro  NHY.OL ,
Rio Tinto  RIO.L ,  RIO.AX  and Alcoa  AA.N .
    Duties of 21.2% are imposed for Guangdong Haomei New
Materials Co Ltd  002988.SZ  and Guangdong King Metal Light
Alloy Technology Co Ltd, while Press Metal International Ltd
will see duties of 25.0%.
    Other "cooperating" companies would face duties of 22.1% and
material from all other companies would see charges of 32.1%.
    China's metals association had previously called the
complaint groundless.  urn:newsml:reuters.com:*:nL3N2AM001

 (Reporting by Philip Blenkinsop; Editing by Susan Fenton)
 ((philip.blenkinsop@thomsonreuters.com; +32 2 585 2869; Reuters
Messaging: philip.blenkinsop.thomsonreuters.com@reuters.net))
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