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Kallanish Kallanish

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January, 29th 2020

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OCT 24
14:00

GCC launches wide-ranging steel safeguard investigation

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The Gulf Cooperation Council has initiated a safeguard investigation against a wide range of flat, long and tubular steel products, following a significant increase in imports of these products in 2014-2018.

The products under investigation include hot rolled flat products under HS codes 720827; 720837; 720838; 720839; 720851; 720853; 720854; 721113; 721114; 721119. Also included are cold rolled flats under HS codes 720916; 720917; 720918; 720926; 720927; 720928; 720990; 722550; and coated flats under HS codes 721030; 721049; 721069; 721220; 721250; 721260; 722591; 722592; 722599; 721240.

Various rebar and wire rod, sections and welded and seamless pipe products are also included, Kallanish learns from the GCC-Bureau of Technical Secretariat for Anti Injurious Practices in International Trade (GCC-TSAIP).

Compared to 2014, the combined import tonnage of these products rose 19% in 2015, then declined -1% in 2016 before rising 10% in 2017 and 13% in 2018. Relative to GCC production, these comparisons were 18% growth in 2015, stagnation in 2016, 20% growth in 2017 and 16% growth in 2018.

“It was also found that the increase in imports under investigation was due to unforeseen developments, namely the increase in the global production of steel, as well as the trade procedures and measures adopted by many countries in the world against their imports of steel products, which contributed to the significant increase in GCC imports of steel products,” says GCC-TSAIP.

The investigation covers the period from 1 January 2014 to 30 June 2019.

This is the GCC’s third steel safeguard investigation but by far its most wide-reaching to date. One previous probe resulted in the implementation in May 2018 of a three-year safeguard duty on imports of coated sheet under HS codes 721070 and 721090. The other was a probe into ferro-silico-manganese under HS code 72023000, but this was abandoned.