EU Hits China, Russia With Steel Anti-dumping Duties

   BRUSSELS, (APP - UrduPoint / Pakistan Point News - 4th August, 2016) - The European Union on Thursday hit China and Russia with anti-dumping duties on cold rolled steel imports after EU producers complained they were being forced out of the market.

The European Commission said the levies, announced provisionally in February, will run for five years as Europe tries to cope with a global steel glut largely driven by massive Chinese output. "In the wake of the global steel overcapacity crisis, the Commission is applying the trade defence instruments to re-establish a level playing field between EU and foreign producers," it said in a statement. Industry uses cold rolled steel extensively to make all sorts of goods and appliances, from automobiles to refrigerators.