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By Foo Yun Chee
BRUSSELS (Reuters) - The European Union has imposed provisional import duties of as much as 28.5 percent on certain Chinese corrosion-resistant steels after an eight-month investigation found that the products benefited from unfair subsidies.
"With Voestalpine, Thyssenkrupp and ArcelorMittal leading exposure to galvanised (corrosion resistant) steel, today's news is a positive catalyst for boosting domestic market share and margins," Jefferies analysts said.
"It was provisionally concluded that the imposition of measures would contribute to the recovery of the Union industry by allowing price increases enabling the industry as a whole to return to a profitable situation," the Commission said in a statement.
The EU import duties, ranging from 17.2 percent to 28.5 percent, will affect Hesteel Group, Shougang Group, Shagang Group and several other companies.
The companies can challenge the EU decision at a hearing within 25 days.
(Reporting by Foo Yun Chee, additional reporting by Maytaal Angel; editing by Robert-Jan Bartunek and Jason Neely)