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Ministry: EU tariffs on Chinese steel wire rods unnecessary
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21:29, July 30, 2009

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The European Union's imposition of anti-dumping tariffs on Chinese steel wire rods is unnecessary as Chinese exports to the EU have fallen since 2008, said a Chinese Ministry of Commerce (MOC) official who declined to be named Thursday.

European Union trade officials approved duties on imported Chinese steel wire rods on Monday. Duties of up to 24 percent are expected to be levied on imports from early August, according to a resolution passed by the European Union.

European producers have claimed that Chinese producers had sold products at low prices and hurt their businesses.

China's steel wire rod exports to the EU had shrunk since China imposed a 15-percent export duty last year, and it would not injure the steel industry of the EU, said the official.

Figures from the London-based Iron and Steel Statistics Bureau showed China had become a net steel importer in the second quarter of this year.

The EU launched a series of anti-dumping probes against steel and iron products imported from China last year, but dropped the threat of duties against galvanized steel sheet and cold-rolled products.

Source: Xinhua

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