Quick News: EU Imposes 27.4% Anti-dumping Duty on Philippine

On March 12th, 2013, EU revealed an official investigation result on a possible circumvention act. After the investigation, EU decides to impose a 27.4% anti-dumping duty on stainless steel fasteners imported from Philippine. The reason is that EU has obtained information showing that after the anti-dumping duty was imposed on China, the export volume of stainless steel fasteners and parts from China to Philippine skyrocketed from the minimum 1,100 tons to over 15,000 tons (see Table 1). In the meantime, the export volume of stainless steel fasteners and parts exported from Philippine to EU surged from below 100 tons to over 12,000 tons (Table 2). During the investigation, the Commission carried out the verification visits at the premises of 3 companies (<the Phillipines> Multi-Tek Fasteners Inc., <the Phillipines>  Phil Shin Works Corporation, and <the Phillipines> Rosario Fasteners Corporation) and other 13 corporations. Two of the three Philippine companies have been exempted, whereas one remains on watch list.

(Table 1) Stainless steel fasteners and parts exported from China to Philippine

Source: Eurostat

(Table 2) Stainless steel fasteners and parts exported from Philippine to EU

Source: Global Trade Atlas Database

In addition, EU also extended its investigation on suspected Thailand and Malaysia, but later exempted both countries because their sharp rise in export volume is fully supported by explicable evidence and reasonable market conditions.

Over time, Fastener World Inc. has been stressing on the severity of anti-dumping duty in our publications and websites. In light of this Philippine case, Fastener World Inc. once again calls for public attention on EU anti-dumping policy. Please refrain from transshipping circumventive fasteners imported from China and exporting them to EU. It is not worthwhile to end in an irretrievable big loss from merely a small gain.