Hebei fastener industry will gradually recover the EU market

On July 15, the WTO Appellate Body issued a report and finally ruled that the EU's anti-dumping measures against China's screws, nuts, bolts and other carbon steel fasteners violated the WTO rules. This means that 13 companies involved in Hebei Province are expected to get rid of the anti-dumping duties previously levied by the EU and recover the EU market.

The person in charge of the Yongnian County Standards Association said that the WTO’s final ruling has encouraged Hebei’s fastener exporters. At present, although this final ruling has turned into substantial benefits, it will take some time, but this news still allows fastener exporters to eat a "centering pill", I believe the EU will eventually cancel the irrational anti-dumping duties imposed on China's fastener products. , The province's fastener industry will gradually recover the EU market.

The ruling report issued by the WTO Appellate Body on July 15 found that Article 9(5) of the EU's "Anti-dumping Basic Regulations" stipulates separate tax rates and violates the rules of the World Trade Organization; the European Commission has ruled against China's screws, nuts, bolts and other carbon steels. The anti-dumping measures implemented by fasteners violated the WTO rules in terms of domestic industry determination, fair comparison of normal values ​​and export prices.

China is the world's largest producer of carbon steel fasteners such as screws, nuts, and bolts. The EU is the main market for these products. In January 2009, the European Union decided to impose anti-dumping duties of 26.5% to 85% on China's carbon steel fastener products. According to the statistics of the Fasteners Branch of the China Machinery General Parts & Components Industry Association, China’s exports of fasteners to the EU from the same year dropped sharply from 1 million tons in 2008 to zero, and in 2010 exports only about 100,000 tons. On July 31, 2009, China resorted to the WTO dispute settlement mechanism.

"This is not only a triumph of China's industry, but also a victory of the WTO rules." Li Xiaochuan, Director General of the Bureau of Commerce, Trade and Industry of the Provincial Department of Commerce, told reporters that the case involved 13 fastener manufacturers in the province that exported to the European Union, according to the then export. The amount is calculated and the amount involved is more than US$1 million. From January 2009 onwards, in addition to the 77.5% anti-dumping duties levied on three companies, Tangshan Xinfeng Standard Parts Co., Ltd., Tangshan Huifeng Standard Parts Manufacturing Co., Ltd., and Xingtai Ningbo Fasteners Co., Ltd. that actively responded Companies exporting to the European Union have been imposed a high anti-dumping duty of 85%.