New EU Anti-Dumping Investigation on HRC Imports?-Teda Metal

New EU Anti-Dumping Investigation on HRC Imports?

New EU Anti-Dumping Investigation on HRC Imports?

Recent reports suggest that the European Commission may soon begin anti-dumping investigations into carbon steel hot-rolled coil (HRC) imports from Egypt, Japan, India, and Vietnam. These proceedings could start as early as August, with some sources indicating that the affected countries have already been notified.

Is the EU Commission’s Economic Protectionism Misguided?

This potential action targets nearly 50% of European HRC imports and could be seen as another round of the EU Commission’s economic protectionism. Such measures have previously overlooked findings from the EU Safeguard investigation, which highlighted a severe steel shortage in Europe. The needs of the steel processing industry and small to medium-sized enterprises are often sidelined in favor of the demands of EU steel manufacturers.

Rumors suggest that the current proceedings against HRC imports from these countries are driven by similar motivations as the last EU anti-circumvention actions against stainless steel.

Opinion: LME Must Adjust Nickel Stock Reporting

As the London Metal Exchange (LME) prepares to release its latest Country of Origin Stocks report, concerns have been raised regarding the accuracy of nickel stock listings, particularly those originating from Russia.

Are Nickel Stocks Artificially High?

For several months, Russian nickel has faced sanctions from Western countries, making it effectively non-tradable. Despite this, Russian nickel stocks remain listed on the LME, impacting the perceived availability and pricing of this crucial raw material. Approximately 20-22% of LME’s nickel stocks are of Russian origin, representing a significant portion.

Time for Inventory Corrections

Given the increase in nickel stocks and ongoing sanctions unlikely to be lifted soon, it is time for the LME to revise its stock reporting. The upcoming Country of Origin Report is an opportunity for the LME to demonstrate transparency and address this issue.