COMMISSION TO STUDY HOT ROLLED COIL STEEL DUMPING CLAIMS.

The European Commission announced on December 7 it was opening an investigation into claims that imports of hot rolled coil from six countries were being dumped on the European Union's market. The inquiry was prompted by a complaint from Eurofer, the EU's iron and steel lobby, which claims that imports from Bulgaria, India, South Africa, Taiwan, Iran and Yugoslavia rose 200% over the course of 1998. The coil is flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, not clad, plated or coated, in coils, not further worked than hot-rolled. Eurofer says the six countries have collectively tripled their EU market share to 15%, with dumping margins of 67%. "This rise was only possible by substantial price undercutting and price levels below the normal value for the product concerned", Eurofer said. "As a result of these dumped imports, prices on the European market have fallen substantially." This complaint is expected to be the first of many from Eurofer. Over the...