Antidumping: Great Impact on Zhejiang Fastener enterprises

Antidumping: Great Impact on Zhejiang Fastener enterprises Author: Chinafastener magazine Views: Date: 2008-11-14 Source: www.ChinaFastener.com

 

 

MOFCOM releases that judging from EU commission' official document, EU may place "anti-dumping" tariffs on following Chinese fastener enterprises: Shanghai Prime Machinery Co., Ltd 69.9%, Changshu standard factory 63.1%, Dongguang Jinma 26.5%, Kunshan Chenghe Standard Component Co., Ltd 82.6%, and Ningbo Jinding Fastening Piece Co., Ltd. 67.3% and Ningbo Yonghong Fasteners Co., Ltd 81.5%. Only Celo Suzhou Precision Fasteners (www.celo.com) and Agrati Yantai Agrati Fasteners (www.agrati.com) can escape from the antidumping case. They are Spain invested company and Italy invested company separately. There is 78.1% antidumping tax for the other responding manufacturers, while 87.3% for non- responding manufacturers.   EU commission imposed the antidumping investment in Nov, 2007, involving  532,000,000 U.S. dollars. There are 123 responding companies. In the following investigation, the European Commission rejected most responding enterprises to apply for market economy treatment.   This antidumping case has a great negative effect on Chinese export-oriented manufacturers, especially those located in Ningbo and Haiyan. Ningbo City, as the major fastener manufacturing and exporting base, covers more than 25% of national fastener production volume. Every year, the exporting value of fastener products from Ningbo to EU market comes to more than 200,000,000 USD, nearly 1/3 of Ningbo total export value of fastener products. EU becomes the biggest fastener export market of Ningbo. This antidumping case covers wide area and more than ten fastener manufacturers in Ningbo are involved in this case. At the same time, Haiyan, another city in Zhengjiang province, also suffer a lot from this antidumping case. Many fastener manufacturers in Haiyan try to expand their market to North America, Middle East and Russia.