This is a curious glimpse into EU thinking when there is a clear case for anti-dumping duties only to be pushed back to the 11th.e hour after complaints from only two aluminum users and an importer.
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Chinese aluminum and European anti-dumping duties
You have to assume that they are well connected. Almost the entire aluminum manufacturing sector was the initiator of the original investigation.
Currently, following an announcement made in April 2021, provisional duties between 19.3% and 46.7% were to become definitive duties between 14% and 25% from October.
These rights would have remained in place for five years. But it seems that the rapid rise in aluminum prices has caused panic, if not in Brussels, at least among the most losing importers. Thus, pressure was exerted to postpone the investigation.
This, of course, despite the fact that the rise in aluminum prices is a global phenomenon. The European Aluminum trade body, however, claims that the EU the capacity is sufficient to supply market and industry profit margins are tight, Reuters reported.
The post reports that the European Commission said its investigation was still ongoing. Definitive measures, if any, are to be imposed by October 11.
Unsurprisingly, the announcement sent shockwaves through the European aluminum market. In addition, it could have a significant impact on metal conversion premiums and Rotterdam physical delivery premium in the fourth quarter.
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