The European Union has extended the duration of its anti-dumping duties on stainless steel pipes imported from China for a further five years, Reuters reports, repeating previous claims of significant over-capacity in the Chinese steel industry.
The tariffs, first set in 2011 and reviewed in 2016, stand between 48.3 and 71.9%. They are one of 17 different measures taken by the EU against various steel products produced in China.
China has made public its intentions to cut overcapacity in its steel, as well as other, industries. On Monday at the National People’s Congress Premier Li Keqiang announced the country’s goal of shedding a further 30 million metric tons of steel production in 2018.
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