EU imposes tariffs on stainless steel from India, Indonesia

·1-min read
An employee works inside a stainless-steel utensil manufacturing unit on the outskirts of Jammu

BRUSSELS (Reuters) - The European Union has imposed tariffs on imports of cold-rolled flat stainless steel products from India and Indonesia after an investigation found they were being sold at artificially low prices.

The European Commission, which conducted the investigation, has set duties of 10.2% for Indonesia's IRNC and 20.2% for other Indonesian producers, the EU official journal said on Thursday.

The rates for India are 13.9% for Jindal Stainless Ltd and Jindal Stainless Hisar Ltd and 35.3% for other Indian producers.

The Commission said that the anti-dumping duties, to take effect from Friday, aim to remedy damage caused to EU producers such as Acerinox and Outokumpu.

(Reporting by Philip Blenkinsop)

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