EU imposes tariffs on aluminium products from China
Reuters
Published Oct 13, 2020 04:45AM ET
BRUSSELS (Reuters) - The European Union will impose duties of up to 48% on imports of aluminium extrusions from China midway through an investigation into whether Chinese producers are selling at unfairly low prices.
The EU official journal said on Tuesday that the duties, ranging from 30.4 to 48.0%, would apply from Wednesday. The duties are provisional, meaning they will apply until the investigation's expected completion by April.
At that point, the bloc could apply duties for five years.
The European Commission, which coordinates trade policy in the 27-nation European Union, opened an investigation in February into the product widely used in transport, construction and electronics after a complaint from industry body European Aluminium.
Members of European Aluminium include Norsk Hydro (OL:NHY), Rio Tinto (L:RIO), (AX:RIO) and Alcoa (N:AA).
China's metals association has called the complaint groundless.
The duties will be of 30.4% for Guangdong Haomei New Materials Co Ltd (SZ:002988) and Guangdong King Metal Light Alloy Technology Co Ltd, while Press Metal International Ltd will see duties of 38.2%.
Other "cooperating" companies would face duties of 34.9% and material from all other companies would see charges of 48%.
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Written By: Reuters
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