EU to look into Chinese steel dumping

The EU will investigate Chinese-made steel used for car bodies to establish whether the products are being sold in Europe at unfairly low prices, the Financial Times reported. The proposal to review imports of hot-dipped galvanized steel was made by the European Commission, the EU's executive arm, after regional steelmakers made a formal complaint in October. They claim that China has deliberately underpriced its steel products to clear stocks after its domestic market became saturated. Steel imports from China doubled to hit nearly US$1.5 billion this year. Once it begins the probe, the Commission has nine months to assess whether the European steel industry has been harmed as a result of Chinese behavior. It may then recommend punitive measures such as tariffs or quotas.