03:29
+17
USD 68.58
EUR 80.93
RUB 1.19
English

EEU protects domestic producers. Duty for Ukrainian goods introduced

The decision of the board of the Eurasian Economic Commission (EEC) introduced an anti-dumping duty on hot rolled angle bars produced at Ukrainian enterprises. The EEU decided to protect domestic manufacturers of metallurgical products.

It is noted that the decision was made on the basis of the data of the anti-dumping investigation. Since August 2016, it was conducted by the Department for the Protection of the Internal Market of the EEC. The investigation was initiated by a number of major Russian metallurgical enterprises — the West Siberian and Nizhny Tagil metallurgical plants, the Magnitogorsk Iron and Steel Works, and two «Severstal» enterprises.

The commission established the fact of dumping imports into the EEU of products produced by a number of Ukrainian producers, including «Azovstal», "Enakievsky Steel Works" and others. Dumping margin for imports of angles is determined at a rate of 37.89 percent.

In 2015, compared to 2014, the volume of supplies of angles from Ukraine to the market of the EEU increased by 41.3 percent. And the volume of production of similar goods on the territory of the Union declined by 15.6 percent. This trend continued during the investigation, which took place from July 1, 2015 to June 30, 2016. With the growth of imports from Ukraine by 23.1 percent, the drop in production was 13.9 percent.

From January 1, 2013 to June 30, 2016, the prices of Ukrainian producers of angle bars were lower than the prices of producers of similar goods. In 2015, the Ukrainian angle bars fell in price by 32.3 percent, during the investigation — by 28.4 percent. Manufacturers from the states of the union were also forced to reduce prices in order to remain competitive.

The impact of dumping imports has worsened the production and financial and economic indicators of the metallurgical branch of the EEU economy. For example, the volume of production in the industry during the investigation period decreased by 14.4 percent, sales volume — by 11.8 percent, profit — by 50.3 percent. Income from the use of fixed assets fell 2.5 times. In May 2017, it was decided to impose a preliminary anti-dumping duty on Ukrainian angle bars for a period of four months — from June to October 2017.

The new decision of the EEC Collegium prolonged the anti-dumping duty for four years and eight months. Thus, the total period of its validity will be five years.

The EEC Collegium has established an anti-dumping duty of 37.89 percent for Ukrainian steel hot-rolled angle bars imported to the customs territory of the Eurasian Economic Union. The decision will come into force 30 calendar days from the date of its official publication, but not earlier than on October 11, 2017.

Popular