Sunday, February 25, 2024

The Anti-Distortion Commission welcomes Huachipato’s request and will investigate the imported steel market | eCONOMY

Julio Bertrand, president of the board of Huachipato, said that they expect “the adoption of measures to correct the price distortions of imported steel in China, which will damage an integrated value chain from the local steel industry to mining.”

the Huachipato Steel Company (CSH) reported that the National Commission in Charge of Investigating the Existence of Distortions in the Price of Imported Goods (also known as the “Anti-Distortion Commission”) has received a request and will analyze the imported steel market.

It is worth noting that the company is facing a critical situation: for many years it appears that there is a “unfair competition” from steel coming from abroad (40% cheaper).

The workers and senior managers of the plant located in the Bío Bío region asked to find solutions to the problem to protecting 20 thousand jobs directly and indirectly linked to Huachipato.

And in that context, the Anti-Distortions Commission will start an investigation ex officio on steel bar market. Also, it accepted the request to start a market investigation for steel balls for grinding.

Julio Bertrand, president of the board of directors of Siderúrgica Huachipato, appreciates this development because it will facilitate the study of the case.

He continued that they also expected “the adoption of the measures of correct distortions in the price of Chinese steel importswhich will harm an integrated value chain from the local steel industry to mining.”

The executive added that “the recent determination of the Commission also shows the strength of the information presented by our company and the urgency of action.”

Bertrand emphasized that in the company “We are not looking for subsidies or protection, what we are looking for is to correct unfair competition.” which exists today, promotes fair competition and the sustainability of the industry. ”

“It is for us that all actors must accept and ensure objective and balanced terms of exchange so that our industrial sector can develop in certain areas,” he added.

The president of the labor union in Huachipato, Héctor Medina, asked to speed up the process.

“The most important thing is that this investigation shows that there is dumping by the Chinese (…),” he said. By checking this, he explained, corrections can be applied.

They demanded that the price distortion be corrected

The company asked the commission on October 31 to initiate an investigation into the steel grinding bar and ball markets to correct price distortions caused by subsidies and other forms of state intervention from China. which allows exporters from that country to sell their products in Chile below their cost of production.

Siderúrgica Huachipato also requested temporary measures and definite anti-dumping duties.

“Price distortions in China’s steel industry have led Europe, the United States, Mexico, Brazil, India, the United Kingdom, Australia and Egypt, among others, to establish measures to correct steel products that comes from an Asian country,” he said. company in a statement.

With more than 70 years of history, Huachipato – a company of the CAP Group – has a fundamental role in the sustainable development of the national mining industry and a pillar of development in the Bío Bío region, where it has created it is at least 20 thousand direct and indirect jobs. .

World Nation News Desk
World Nation News Desk
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