The European Commission has imposed provisional anti-dumping and anti-subsidy duties of up to 32.1% on stainless steel drawn wire from India.
The anti-dumping and anti-subsidy complaints were filed by Eurofer in June 2012. Dumped imports from India now represent over 19% of European Union consumption of stainless steel drawn wire. At the same time they make up for more than 50% of total imports into the EU.
Stainless drawn wire is used in diverse applications ranging from battery anodes to welding wire and nails or rivets. The most common requirement in these applications is corrosion resistance.
Imports from India had grown by almost 50% in the years 2007 to 2011, while total EU consumption of the product decreased by 5% over the same period. Market share of stainless drawn wire from India rose from eleven to over 18% in the same period, with an increase of 6% from 2010 to 2011 alone. Prices of imports from India have remained consistently below prices of imports from other countries.
This has caused serious difficulties for European producers, which had to cut production and have reported significant losses from 2007 until 2011.