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EU sets dumping duties on steel from four countries

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EU sets dumping duties on steel from four countries

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BRUSSELS (Reuters) – The European Union has decided to set duties on hot-rolled steel from Brazil, Iran, Russia and Ukraine after a complaint by EU manufacturers that the product used for construction and machinery was being sold at excessively low prices. The European Union will levy anti-dumping tariffs of between 17.6 and 96.5 euros (£15.76-£86.31) per tonne from Saturday, the European Union’s official journal said on Friday. The European Commission had initially proposed setting a minimum price – of 472.27 euros per tonne – but revised its proposal after failing to secure backing from EU member states.

(Reporting by Philip Blenkinsop; editing by Robert-Jan Bartunek)
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