In its initial findings, the UK's Trade Remedies Authority (TRA) has today (23 February 2022) proposed that existing measures on imports of iron and steel Wire Rod be maintained. The TRA's provisional findings, contained in the Statements of Essential Facts, would mean that the UK's Wire Rod industry continues to be protected from dumped Wire Rod from China. A 30 day period for comments is now open.
Investigation findings
Following a transition review, the TRA has recommended that anti-dumping measures be kept on bars and rods of hot-rolled iron, non-alloy steel or alloy steel other than of stainless steel from China.
Wire Rod in the UK is predominantly used in construction, tyre reinforcement and steel springs in vehicles. The UK market for Wire Rod is estimated to be worth more than £740 million per year.
Historically, the UK was an attractive market for Chinese exporters of Wire Rod before the existing measure was imposed. Since the measure was imposed by the European Union in 2008, the volume of imports dropped significantly. The TRA's investigation found evidence of high production and significant inventories of Wire Rod in China suggesting that dumping would be likely to occur again if the measures were removed.
The TRA has recommended that the measures on Wire Rod be maintained at their current levels until 30 January 2026 - that is five years subsequent to the date when the measure would have expired (30 January 2021) had no transition review been initiated.
Following today's publication, there will be a 30-day period in which interested parties can comment on the report. Comments can be submitted by Interested Parties to the TRA via the Trade Remedies Service website.
The TRA will then consider and produce a Final Recommendation, which will be sent to the Secretary of State for International Trade who will make the final decision on whether to uphold the TRA's recommendation.
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The Trade Remedies Authority (TRA) is the independent UK body, established in June 2021, as the first non-departmental public body of the Department for International Trade, that investigates whether trade remedy measures are needed to counter unfair import practices and unforeseen surges of imports.
