China Iron and Steel Association call EU steel subsidy accusation unfair

Resource from: Morning Whistle Likes:183

Jan 18,2013

The European Commission pointed out that China's government is subsidizing steel companies and may levy an anti-subsidy tax on China's steel products. Zhang Changfu, deputy director and secretary general of China Iron and Steel Association responded that the accusation is poorly-founded. Zhang said that the export of steel products is decided by the EU market and China's steel companies haven't damage the interests of European steel companies, but in fact, have protected the interests of downstream customers. China's steel product prices are not the lowest in the European market, according to Zhang, and because China's steel companies have to bear a high tax and are also facing losses, the accusation from the EU is unfair. According to a manager of Anshan Iron and Steel Group Co., the comparatively lower price of China's steel products has hindered the price increase of some major European steel companies, for example, Arcelor Mittal. Zhang said that if the EU initiates an anti-dumping or anti-subsidy investigation, China will fight against with the rules of WTO. "And even if we fail, the influence won't be serious," said Zhang. According to figures from the General Customs Administration, the EU is not included in the top ten largest countries for China's steel products export. But some companies will still be impacted. For example, Anshan Iron and Steel Group Co., Hebei Iron & Steel Co. and Benxi Steel Co..

(Morning Whistle)

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