8 July 2022 – The EU Commission has officially announced the end of the anti-dumping suspension on imports of flat-rolled aluminium products originating in China on 12 July 2022. Anti-dumping duties of up to 24.9% will then be imposed. Chinese economy to get 220 billion USD stimulus package. And Asian market participants see rising demand and possible shortages coming.
EU officially lifts anti-dumping suspension
The European Commission has published the official decision not to extend the suspension of the definitive anti-dumping duties imposed by Implementing Regulation (EU) 2021/1784 on imports of flat-rolled aluminium products originating in the People’s Republic of China.
Suspension was an isolated case
This is exactly what we had reported and warned about several times, that the suspension of the anti-dumping measure on flat-rolled Chinese aluminium products was only a temporary measure. In addition, the European Commission has once again emphasised in its decision that this was an absolutely isolated case.
Anti-dumping duties of up to 24.9% on Chinese aluminium
The European AD measure will thus be reinstated on 12 July 2022 and anti-dumping duties of up to 24.9% will be imposed on flat-rolled Chinese aluminium imports.
Chinese economy to get 220 billion USD aid package
The Chinese economy is to be supported with a planned USD 220 billion aid package in the second half of 2022 to cushion Corona-related lockdowns from this year. The announcement yesterday sent copper futures on the LME up more than 4%.
Overall, a further boost in infrastructure projects should have a supportive effect on the base metals. In any case, this aid package will have an impact on the period after the summer break.
Asian market participants are expecting significantly more demand
Market participants from the Asian economic area are expecting a significant increase in demand for steel, aluminium and stainless steel in the coming months. In particular, it is expected that many buyers will go on a buying spree at the same time, which could lead to renewed bottlenecks, not only in availability, but also in EU Safeguard quotas.
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