April 20, 2018 / 8:23 AM / 2 years ago

EU extends anti-dumping duties on Chinese steel rope

BRUSSELS (Reuters) - The European Union has extended anti-dumping duties on Chinese steel rope and cables for five years following a review, the EU official journal said on Friday.

The duties, of 60.4 percent, have applied to steel rope and cable from China since 1999 and subsequently been extended to Morocco and South Korea because EU investigations found that Chinese product was being shipped into Europe via those countries.

Certain Korean exporters were granted exemptions.

The European Commission, which oversees trade policy for the 28-country European Union, concluded that repealing the measures would likely result in a surge of steel ropes and cable imports from China at prices undercutting local producers.

The EU imported some 100 million euros (£87.7 million)worth of steel rope and cables in 2016, equivalent to a market share of about 40 percent.

Reporting by Philip Blenkinsop; editing by Robert-Jan Bartunek

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