EU launches investigation into Chinese optical fibre cable imports (updated)

Yangtze Optical Fibre and Cable Joint Stock Co

24/09/2020 14:13

(Adds EU market size, 2019 sales)
    BRUSSELS, Sept 24 (Reuters) - The European Commission
launched an investigation on Thursday into imports of optical
fibre cable from China, which EU manufacturers believe are being
sold in Europe at artificially low prices.
    The case comes as the 27-member European Union wants the
digital economy to be a key part of its economic recovery and
demands a greater opening of Chinese markets.  urn:newsml:reuters.com:*:nL8N2GB2NP
    Europacable, which brought the complaint on behalf of the EU
producers, said some 1.2 million kilometres (745,000 miles) were
sold in Europe last year, with 15-20% coming from China, in a
total EU market worth about 1 billion euros ($1.16 billion).
    Chinese imports rose by 150% from 2016 to 2019, the industry
group said.
    EU anti-dumping investigations take up to 15 months, but
provisional duties can be put in place within eight. Final
tariffs, if imposed, would normally apply for five years.
    The largest producers in the EU are Italy's Prysmian Group
 PRY.MI , U.S. company Corning  GLW.N  and France-based Nexans
 NEXS.PA  and Acome.
    Major Chinese optical fibre cable makers include Yangtze
Optical FC  6869.HK , Hengtong Group  600487.SS , Fiberhome
 600498.SS  and Futong.
    The Commission has already carried out a series of
investigations into glass fibre products from China and imposed
tariffs. It also has 29 ongoing trade defence investigations, 18
of them including products from China.

($1 = 0.8587 euros)

 (Reporting by Philip Blenkinsop; Editing by Mark Potter and
David Evans)
 ((philip.blenkinsop@thomsonreuters.com; +32 2 585 2869; Reuters
Messaging: philip.blenkinsop.thomsonreuters.com@reuters.net))