EC Dumping Investigation Targets Fasteners from China
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Mar 18,2008
EC Dumping Investigation Targets Fasteners from China
Responding to a chorus of complaints by European manufacturers, the European Commission has agreed to initiate a formal dumping investigation into all types of iron and steel fasteners from the People's Republic of China. The investigation is 2007/C267/11.
A formal complaint was officially filed in September by the European Industrial Fasteners Institute, on behalf of EU fastener producers representing a more than the requisite 25% of total EC market fastener production.
European producers are seeking 90% to 125% dumping margins, as China-produced fasteners are, "seriously undercutting" EU manufactured prices. The complaint alleges damage to EU fastener manufacturers as market share and profitability have fallen even as EU-wide fastener demand has been up 31%. The complaint also alleges Chinese fastener prices have been falling, even though the cost of raw materials has been rising worldwide. By the end of 2007, Chinese producers claimed nearly 30% of the EU market for fasteners.
Because China is considered a non-market economy in determining rates, a proxy will be used to determine the proper market economy cost and selling price structure. In this case, India will be used as the model for establishing a "normal" production value vis-a-vis the Chinese mainland.
Because the complaint was lodged against such a large number of Chinese producers (3,012 producers are named in the complaint), the Commission will probably may decide to simplify the process by choosing to compare only a representative sampling of products and manufacturers.
The EC said all interested parties should request a questionnaire or other claim forms as soon as possible. All interested parties, if their representations are to be taken into account during the investigation, must make themselves known by contacting the Commission, present their views and submit questionnaire replies. All exporters/producers involved who wish to apply for individual examination must also submit a questionnaire reply. All interested parties may also apply to be heard directly by the Commission.
Provisional measures may be imposed no later than August 8, 2008, but may come much sooner; all notices will be published in the EC's Official Journal.
Any findings are subject to appeal under WTO regulations, which may continue the dispute for months or even years.
Specifically involved are:
Certain iron or steel fasteners, other than of stainless steel, i.e., wood screws (excluding coach screws), self-tapping screws, other screws and bolts with heads (whether or not with their nuts or washers, but excluding screws turned from bars, rods, profiles or wire, of solid section, of shank thickness not exceeding 6mm and excluding screws and bolts for fixing railway track construction material) and washers, normally declared within CN codes 7318.12.90, 7318.14.91, 7318.14.99, 7318.15.59, 7318.15.69, 7318.15.81, 7318.15.89, 7318.15.90, 7318.21.00 and 7318.22.00.
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
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