Following an expiry review, the European Union decided to continue antidumping measures applied to imports of certain wire rod from China, Fastener + Fixing Magazine reports. The extended measure applies duty at 24%.
The review determined that China currently has some 50 million tonnes spare capacity (50% more than actual output) in wire rod production and according to the Chinese export database shipped some 9 million tonnes worldwide in the year to 30th June 2014.
The average cost per ton of exported wire rod fell by between 14% and 19% from 2012 to 2014, depending on the geographic market.
Source: Global Fastener News
