7 October 2025 – A WTO panel has ruled that the European Commission breached the WTO Subsidies and Countervailing Measures (SCM) Agreement several times when imposing countervailing duties on stainless steel products from Indonesia. Meanwhile, the Commission has launched an expiry review of existing anti-dumping measures on hot-rolled stainless steel imports from Indonesia, China and Taiwan. Aluminium premiums have climbed to a new record high.
WTO panel criticises EU duties on Indonesian stainless steel
A WTO panel has found that the European Commission violated multiple provisions of the SCM Agreement in its decision to impose countervailing duties on stainless steel products from Indonesia.
The Commission had wrongly attributed financing from Chinese banks to the Indonesian government and unlawfully classified Indonesian nickel ore mines as state entities. It also treated customs exemptions in free trade zones as subsidies without granting Indonesia adequate opportunity to respond. In addition, its reasoning for certain tax-related benefits was deemed insufficient. In other respects – for example, concerning anti-dumping calculations – the panel did not uphold Indonesia’s arguments.
The WTO recommended that the EU bring its measures into conformity with the SCM Agreement. The ruling again raises questions about the legality of European industrial protection in the raw materials sector. The EU has repeatedly been criticised by the WTO in recent years for deficiencies in its trade defence investigations.
EU launches review of anti-dumping duties on stainless steel from Asia
On 3 October 2025, the European Commission initiated an expiry review of existing anti-dumping measures on imports of hot-rolled stainless steel from Indonesia, China and Taiwan. The applicant is the European steel association Eurofer, which is seeking a continuation of the duties. According to the request, ending the measures would likely result in continued dumping and renewed injury to the EU steel industry.
As usual, Eurofer points to substantial overcapacity in Asia and allegedly distorted market conditions, particularly in China. The Commission will assess whether dumped imports are likely to continue or recur and whether maintaining the duties is in the EU’s interest. The investigation period covers July 2024 to June 2025, with a conclusion expected within the next 12 months.
EU stainless producers undermining their own protection measures
In recent years, European stainless steel producers have imported hundreds of thousands of tonnes of stainless steel slabs, particularly from Indonesia – effectively circumventing the very anti-dumping measures designed to protect them from hot-rolled and cold-rolled stainless imports. This is expected to create significant argumentative challenges for Eurofer during the current review, as its own members have been among the main beneficiaries of these imports.
US aluminium premiums hit new record high
US aluminium premiums surged to a new record high yesterday, up more than 5.5% since 1 October, currently standing at USD 0.7739/lb.
Aluminium prices on the LME also continued their upward trend, rising above USD 2,700/MT on 2 October and remaining at that level as trading began this Tuesday.
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