What are the consequences of EU antidumping on the steel market?

After years of controversy, the European Union decided to tighten its anti-dumping policy. But the question remains, are these measures sufficient in the current situation?

Steel overproduction is observed in almost all countries, but its main driving force is China with its production potential, which currently produces about half of the world's steel. The current overproduction in China is estimated at 300 million tons. This is almost twice as much steel as the entire European Union consumes annually.

Chinese steel exports have skyrocketed. In 2009, it amounted to a total of 25 million tons, and a year later, already 42 million tons. Then the growth in 2013, the export of steel from China amounted to 62 million tons. The next year, however, exports have already jumped to 94 million tons! In 2015, it exceeded the magic limit of "hundreds" and reached 113 million tons.

The scale itself is not the biggest issue. The real trouble is that the Chinese were dumping surplus steel at a devastating cost in a war that had a very negative impact on European companies. In addition to shipments from China, anti-dumping proceedings also cover shipments from other countries, including Iran, Russia and Belarus.

European manufacturers note that the situation for them has improved with the introduction of anti-dumping measures, but they nevertheless noticed that market protection is too small, and European procedures take too long.