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Today the European Commission published a regulation imposing anti-dumping duties on certain iron or steel fasteners imported from China. Duties have been set between 22.1% and 86.5%. The measures follow an investigation which showed the presence of significant dumping on the market, with Chinese imports heavily undercutting European sales prices and therefore injuring the European fasteners industry.
Fasteners are essential elements for a vast variety of industries, from simple screws in “do-it-yourself” kits to high-end applications in the car, aviation and electrical industries. The EU fasteners industry is worth €3.2 billion, with one tenth imported from China. EU producers of fasteners, who are mostly SMEs, employ more than 20,000 people across Europe in countries such as Italy, France, Germany, Poland, Croatia, Sweden and Spain.
The anti-dumping measures imposed today will re-establish a level playing field by taking away the unfair competition caused by the price dumping, allowing EU producers of fasteners to compete in the EU market on an equal footing with the imported fasteners. This will ensure that there is continued and healthy production in the EU of fasteners of all ranges, including those used in high tech sectors like the automotive and car industries.
The anti-dumping measures imposed today will have a limited impact on EU users of fasteners. For the vast majority, fasteners represent only a minor part of the total cost of their final product. A shortage of fasteners is also not expected following the introduction of measures, since the EU industry has a large spare production capacity.