EU extends minimum price for electrical steel imports

Stalprodukt SA

17/01/2022 09:55

BRUSSELS, Jan 17 (Reuters) - The European Union has extended
for five years minimum prices for electrical steel from China,
Japan, Russia, South Korea and the United States on the basis
that producers would otherwise dump it on the EU market.
    The bloc set three minimum prices for grades of
grain-oriented flat-rolled products of silicon-electrical steel
(GOES), which is used in power transformers, in October 2015
after a complaint by EU steelmakers association Eurofer.
    The European Commission, which carried out the
investigation, said that producers in the five countries had
spare capacity and were likely to dump it in the European Union
if the measures were dropped.
    The Commission set minimum prices of between 1,536 euros and
2,043 euros per tonne.
    If producers sell below these prices then they face duties
ranging from 21.5% to 39%. Producers include China's Baoshin
Iron and Steel Co and Wuhan Iron & Steel Co, Japan's JFE Steel
Corp and Nippon Steel  5401.T , Korea's POSCO  005490.KS , 
Russia's Novolipetsk Steel  NLMK.MM  and AK Steel of the United
States.
    EU producers include ThyssenKrupp  TKAG.DE  and Poland's
Stalprodukt  STP.WA .

 (Reporting by Philip Blenkinsop; Editing by Kirsten Donovan)
 ((philip.blenkinsop@thomsonreuters.com; +32 2 585 2869:
@reutersPhilB;))