It has been more than one month since the Ministry of Commerce of China made the anti-dumping final award on the production of fasteners from the EU. But this anti-dumping war has not yet been settled.
This is China’s first anti-dumping case for fasteners to foreign countries. Although the final determination about the anti-dumping duties is at the 6.1% ~ 26% range, but it is far below the expected figure of 64.4%. According to the Ministry of Commerce, EU has made a complaint with the WTO. It shows that the related industries should make preparations for long-term operations. The situation that before the fasteners enterprises in China is not optimistic.
Fastener is commonly known as the screw or nut. It belongs to the mechanical parts. It is called “rice of industry” in the field. The production of the Chinese fasteners is the number 1 in the world, and half of the products are exported. But these products are mostly low-end. Although in recent years, fastener enterprises began to seek restructuring initiatively, but they are still attacked by EU products.
The Deputy Secretary-General Zhangfeng introduces that some EU companies lower prices dramatically to dump high-end fastener products in China. Except for this, they initiate the trade remedy investigations again and abuse of anti-dumping rules. They impose high anti-dumping duties on our fasteners products.
If the high-end fastener products are dumped into China, our fastener enterprises have to compete at a low level which will lead to the delay of industrial upgrading. It is under this situation that China initiates anti-dumping investigations on the imported fasteners from EU.
A leader of the association said that the final award that was made on the EU anti-dumping fasteners by the Ministry of Commerce of China will further accelerate the restructuring of China’s fastener industry. Moreover, it will also improve the development of the high-end products which will play a very important role in promoting the sustained and healthy development of the fastener industry.
Although the above mentioned determination provides a great encouragement to the fastener industry, there is still some regret left. For example, the tax rate still has a certain distance from the expected one.
In order to compete with the foreign products and revitalize the basic component industry, the risk of developing new products should be reduced. Meanwhile, the users and manufacturers should work together to look for alternative products. If we always provide high-end products through imports, then our goal will never be achieved.