EU eases anti-dumping sanction against Ningbo fastener manufacturers
- Details
- Category: Ningbo Business
- Published: Tuesday, 17 July 2012 10:06
EU has published its anti-dumping measures against Chinese fasteners, lowering its anti-dumping duties imposed on certain Chinese companies with an average reduction of 7.1 percent, sources said on Wednesday. The move means EU began to ease its anti-dumping sanctions on Chinese fasteners as some Ningbo manufactures launched a formal complaint about EU’S unfair treatment.
Ningbo, the largest fastener supplier in China, produces more than a quarter of fasteners of the country. In January 2009, the EU decided to impose anti-dumping duties of 26.5 to 85 percent on the carbon steel fasteners products imported from China. The ruling caused a 54.8 percent export drop or a loss of $ 400 million to Ningbo. Many local companies even reported zero exports to the EU.
In the third hearing held on July 3, Chinese lawyers from Allbright Law Offices, together with Mr. Antonini, an EU attorney made a successful defense for Ningbo Jinding Fastener Co., Ltd. and Changshu Standard Parts Factory. Ningbo Jinding Fastener Co., Ltd. is a leading fastener manufacturer in Ningbo with an annual production capacity of 120,000 tonnes. Its annual export volume exceeds over one hundred million U.S. dollars. A large number of evidence and information of the Chinese side aroused the attention of the EU Commission. Followed the hearing, the EU side released its ruling on the fasteners case again, including the product specifications of Indian companies as its reference, and made a price comparison between India and Chinese fastener companies. EU finally decided to cut duties of some Chinese companies, which means the EU might ease its anti-dumping policy of the fasteners case.
According to a previous Sino-EU agreement, a hearing proposed by the Chamber of Commerce will be held on July 11(Brussels local time) in Brussels, Belgium. Fu Donghui, Director of Beijing Office of Allbright Law Offices, said that if the EU could accept China’s perspective, the anti-dumping duties imposed on Ningbo Jinding fastener exports can hopefully be reduced from 64 percent to 15 percent.
