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Anti-Distortion Commission increases surcharges on Chinese steel

Four days after the decision was adopted, this Saturday it was made official that The Anti-Distortion Commission finally agreed to the requests raised by Huachipato and Molycop to increase surcharges on Chinese steel imports. This was announced through a second edition of the Official Gazette, published in the afternoon.

Specifically, the entity raised up to a 24.9% the percentage applied to steel bars to manufacture grinding balls, a product produced by the subsidiary of the CAP group, which in practice equals the figure of 25% that Huachipato requested to reverse the indefinite suspension of the steel plant, adopted by the plant’s board of directors on March 20. On that occasion, the application of differentiated surcharges, which averaged 15.1% to the four Chinese companies investigated in said market, was considered insufficient. AND Although the new surcharges are still provisional, now the higher charge on imports of said product is applied uniformly to all Chinese firms. affected: Baowu, Daye, and Dongbei.

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Although the final decision was closely monitored by Huachipato, Now it will be the turn of the directors of the firm to see if the indefinite suspension of steel activities is reversed. And although the option of backing down appears most likely, said decision must be adopted in a board session and then communicated to the Financial Market Commission, through an essential fact.

For its part, for the conventional steel balls, the new provisional antidumping duty remained at 33.5%, thus affecting all importers of the product equally.

The Minister of Economy, Nicolas Graudefended the decision adopted by the Antidumping Commission, and maintained that “in the institutionality of trade agreements, States have the right to take care of industrial jobs or companies that are affected when there is evidence of dumping. “That is exactly what the commission has identified when technically evaluating the background, both what it did last time and now, reviewing new background.”

Anti-Distortion Commission agrees to Huachipato’s request for surcharges on Chinese steel

He added that “as government we have fulfilled our commitment to the unions and the community of Biobíothat the commission resolved as quickly as possible, because we understood and had empathy with the productive and social urgency in which we find ourselves in this region”

Fernando Orellana, president of Union Number Two of Huachipatosaid that they will probably have news this Monday from the company’s board of directors “but for us it is already positive to know the numbers, which is what they always talked about about 33% and 25%.”

“The numbers are there, it is more than clear, so we are going to wait for them to ratify us and inform us from the board,” he remarked.

The union leader thanked the Antidumping Commission for its work, assuring that “it is a technical commission, and they did their job with all the information, which reflects what dumping was for those percentages.”

When asked about the role of the Executive, in particular Minister Grau, he highlighted that “he always said that the institutions had to work (…) and although suddenly he could not speak many things, the important thing is that We were aware that there were five representatives at the table of the government in powerso the government’s votes were always to support China’s dumping.”

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