ALSO READEU raises import duties on Chinese steel, angering Beijing China urges EU to "correct mistake" of steel anti-dumping duties EU, China fail to agree on steel, trade dumping at summit EU steel body criticises steel tariff plan to counter dumping China condemns EU for new steel anti-dumping duties
By Foo Yun Chee
BRUSSELS (Reuters) - The European Union has slapped 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 enjoyed unfair subsidies.
The EU executive body said anti-dumping duties were necessary to help the bloc's producers in at least 15 EU countries, according to an announcement published in the bloc's Official Journal on Wednesday.
"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; editing by Robert-Jan Bartunek)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)