EU launches anti-subsidy probe into Indian stainless steel bars

08:38, April 02, 2010      

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The European Commission said Thursday it had launched an anti-subsidy probe into imports of certain typesof stainless steel bars from India.

"It is alleged the producers of the product under investigation ... have benefited from a number of subsidies granted by the government of India and from regional subsidies," the commission said in a notice published in the official journal of the European Union (EU).

Among others, the subsidies were said to consist of schemes conferring benefits to industries located in special economic zones, the export promotion capital goods scheme, pre-shipment and post-shipment export financing and loan guarantees from the Indian government.

The product under investigation is stainless steel bars and rods, not further worked than cold-formed or cold-finished, other than bars and rods of circular cross-section of a diameter of 80 millimeters or more.

The commission launched the probe after receiving a complaint from the European Federation of Iron and Steel Industries, or Eurofer, on behalf of European steel makers in February.

Eurofer claimed the volume and the prices of the imported product under investigation had a negative impact on the quantities sold, the level of the prices charged and the market share held by the European industry, resulting in substantial adverse effects on the overall performance and the financial situation of the EU steel makers.

If the commission finds the Indian producers have unfairly benefited from subsidies, which has resulted in injury to the EU industry, it may impose provisional anti-subsidy duties within nine months of launching the investigation.

If definitive measures are warranted, they must be imposed by EU member states within 13 months after the launch of the investigation. Definitive measures are normally applicable for five years.

Source:Xinhua

(Editor:黄蓓蓓)

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