On June 23, the European Confederation of Iron and Steel Industries (EUROFER) released a statement heralding that the EU member states' decision to approve the proposal of the European Commission (EC) to impose a definitive antidumping (AD) duty of 24 percent on imports of wire rod from China.
According to EUROFER, the measure is applicable for five years from the beginning of August 2009.
Welcoming the decision, EUROFER director general Gordon Moffat said, "We are satisfied with this outcome which sends out the clear message that unfair trade practices are not tolerated by Europe."
"Since the onset of the financial and economic crisis we have seen a proliferation of protectionist measures worldwide, which is affecting about 70 percent of world steel production", Moffat added.
EUROFER stated, "Europe is notable by the complete absence of protectionist measures on its market. However, the consequence of this is that protectionism elsewhere drives dumped imports into the open European market. This has been a contributory factor in EUROFER's legitimate use of trade defense against dumped imports of wire rod from China."
In February 2009, the EC decided to impose a 24 percent provisional antidumping (AD) duty on Chinese wire rod following a proceeding which was initiated by the EC in May 2008, with the investigation of dumping and injury covering the period from April 1, 2007 to March 31, 2008.