Massive finished stainless imports could trigger EU investigation

2018-05-18 16:58:40

An anti-dumping investigation is expected to follow the extremely high level of imports of stainless coils from some Asian countries in 2017, Kallanish learns from European sources close to the matter. Import figures last year and this year are “... alarming,” one market observer suggests.

“Prices and volumes of European finished flat stainless steel products have been suffering. Imports are ruining the European market, especially cold rolled coils from some Asian countries. Countries like Malaysia for example are shipping something like 8,000 tonnes/month of CRC to Europe with the results that our local prices stagnate or decrease despite increasing alloy surcharges and higher nickel [… values],” an informed source comments. According to unconfirmed rumours, the EU is closely monitoring the situation and may be starting investigations.

Buyers have ordered high tonnages of tube and both hot and cold rolled stainless coil over the first quarter of 2018. Tube has been purchased primarily from Taiwan and China, while coil has been massively imported from Malaysia, Taiwan and South Africa at cheaper-than-domestic prices. In Europe base prices are stagnating and mills have been unable to increase them so far this year.

This has had effect on prices in Italy with stainless HRC prices at around €2,050/tonne ($2437/t) delivered at end-April, when prices should be starting at €2,100/t delivered due to higher alloy surcharges (see Kallanish 26 April).