China imposes tariff on EU steel fasteners
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China's Ministry of Commerce (MOC) announced Wednesday that it was to impose temporary anti-dumping measures against imports of EU carbon steel fasteners.
The preliminary ruling requires importers of certain types of carbon steel fasteners such as screws and bolts to pay deposits from Dec. 28, the MOC said in a statement on its website.
China's carbon steel fastener industry had suffered material damages due to the dumping, the statement said following a probe.
According to the most recent figures, China imported 21.3 thousand tonnes of carbon steel fasteners in the first nine months of last year, taking up 9.74 percent of the Chinese market, said the ministry.
Companies will have to pay a deposit to China Customs based on the margins -- ranging from 16.8 percent to 24.6 percent -- between the normal value of the products and the dumping price, according to the ministry.
Carbon steel fasteners are widely used in making products like cars, electronic and electrical equipment and machinery.
