India initiates a steel safeguard investigation on hot-rolled flat steel imports on top of an already ongoing anti-dumping procedure for the same products
At the G20 London meeting on 2nd of April 2009, delegates reaffirmed their commitment made in Washington (15th November 2008) to refrain from protectionism.
"Following the Washington meeting in November last year G20 members did not lose time in raising steel import barriers. Now, shortly after the London meeting this month, we see India, a key G20 member, opening a steel safeguard investigation on import of hot-rolled flat steel products on top of an already ongoing anti-dumping procedure for the same products", says EUROFER Director General Gordon Moffat. "We are seriously concerned that by this action targeting a critical, highly traded steel product, India has set the stage for a proliferation of safeguard actions in the global steel market making a destructive wave of steel exports heading to the EU market unavoidable".
In addition to the anti-dumping investigation concerning imports of carbon hot-rolled steel products (coils, sheet, plate and strip according) from certain countries (China, Indonesia, Iran, Japan, Kazakhstan, Malaysia, Philippines, Romania, Russia, South Africa, S. Arabia, Korea, Thailand, Turkey and Ukraine) initiated on 28 November 2008, India has opened a safeguard procedure against all imports of the same product group (9 April 2009). Compared with the AD procedure targeting only Romania among EU member states, the safeguard procedure covers per definition all EU exports of the product concerned (around 500 Kt per year in 2006-08). In terms of indirect impact, the safeguard procedure targets Indian overall imports of the products concerned which were at around 2 Mio t. per year in 2006-2008.
At the G20 London meeting on 2nd of April 2009, delegates reaffirmed their commitment made in Washington (15th November 2008) to refrain from protectionism.
"Following the Washington meeting in November last year G20 members did not lose time in raising steel import barriers. Now, shortly after the London meeting this month, we see India, a key G20 member, opening a steel safeguard investigation on import of hot-rolled flat steel products on top of an already ongoing anti-dumping procedure for the same products", says EUROFER Director General Gordon Moffat. "We are seriously concerned that by this action targeting a critical, highly traded steel product, India has set the stage for a proliferation of safeguard actions in the global steel market making a destructive wave of steel exports heading to the EU market unavoidable".
In addition to the anti-dumping investigation concerning imports of carbon hot-rolled steel products (coils, sheet, plate and strip according) from certain countries (China, Indonesia, Iran, Japan, Kazakhstan, Malaysia, Philippines, Romania, Russia, South Africa, S. Arabia, Korea, Thailand, Turkey and Ukraine) initiated on 28 November 2008, India has opened a safeguard procedure against all imports of the same product group (9 April 2009). Compared with the AD procedure targeting only Romania among EU member states, the safeguard procedure covers per definition all EU exports of the product concerned (around 500 Kt per year in 2006-08). In terms of indirect impact, the safeguard procedure targets Indian overall imports of the products concerned which were at around 2 Mio t. per year in 2006-2008.
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