May 08, 2020
ARCELORMITTAL ANTICIPATES EU ANTI-DUMPING INVESTIGATION INTO TURKISH HRC

The European Commission has officially opened an anti-dumping investigation against hot rolled coil imports from Turkey, ArcelorMittal says in its first-quarter earnings report.

Authorities are, however, yet to make an official announcement. When contacted by Kallanish, ArcelorMittal said it had nothing further to add to what it stated in the release.

It is understood there is typically a 40-day gap between the filing of a request for a trade investigation, and the commencement and official publication of the investigation.

European steelmakers’ association Eurofer, meanwhile, says simply it “…constantly and consistently monitors trade flows to and from the EU to assess whether trade is being conducted under fair conditions.”

Since mid-2019 sources in the market have reported that an EU investigation into HRC imports from Turkey was highly possible. In November 2019, for example, Fabrizio di Gianni from Van Bael & Bellis explained that the investigation could be launched soon, as data showed the EU’s Turkish-origin HRC imports had increased by over five-fold since 2015 (see Kallanish passim).

A senior Turkish steel executive, however, tells Kallanish the EU has “…shot the first bullet, so it will be self-defence […for Turkish steelmakers] thereafter. Europe has actually exposed its desperation – they try every possible way as they can’t compete.” Turkish producers were recently vindicated in the US when the Department of Commerce zeroed dumping margins on rebar from various Turkish mills, he adds.

Source: Eurometal