The Eurasian Economic Commission has decided to impose antidumping duties on Ukrainian steel weldless railroad wheels. The size of the duty is 4.75% of the customs cost, and it has been imposed for 5 years.
The antidumping investigation has been carried out at the request of Evraz Nizhni Tahil Iron and Steel Works and Vysun Iron and Steel Works.
From January 1, 2011 till June 30, 2014 Ukrainian exports of wheels to EEU increased 4.3 times, while its share increased 4.7 times. Prices for Ukrainian wheels were 2.5-5 times cheaper than those from other countries.
Under the pressure of the dumping imports EEU steel wheels manufacturers profits fell by 38.4%, with sales profitability dropping by 5.4%, output volumes – by 25.2% and sales – by 20.8%, said the Commission in its statement. (Ukrainian metal)