UK Steel says EU decision will offer some respite. A STEEL organisation has welcomed new measures aimed at reducing cheap imports.
Trade group UK Steel says the European Commission’s decision to place anti-dumping duties on some Chinese products should offer some respite for steelmakers across the country.
Bosses at collapsed Redcar steel firm SSI UK long cited cheaper Chinese goods as a significant barrier to its progress, while Tata Steel last year sold its loss-making Long Products division, saying dumped goods, allied to higher energy costs and business rates, had placed too much of a burden of the business.
In an effort to tackle such issues, the European Commission has imposed duties on hot-rolled coils of Chinese origin, ranging from 18.1 per cent to 35.9 per cent.
Gareth Stace, director of UK Steel, said: “This is a welcome decision given the continued efforts by China to undermine steelmakers by dumping cheap steel on the market.
“So long as China avoids taking steps to tackle its own issues with overcapacity and fails to adhere to the principle of free trade, which is the lifeblood of the steel sector, then such duties are going to be necessary to ensure we don’t pay the price here in the UK and across Europe.”
Tata’s former Long Products division is now known as British Steel after being taken on by investor Greybull Capital.
The company previously announced its North-East operations, which include the Teesside Beam Mill, near Redcar, will help process sections for Scunthorpe United’s new football ground, London skyscrapers and a Northern Ireland hotel.