Subsidies in the EU are not enough to compete with cheaper Asian steel

The European Union has launched an investigation into the dumping of steel. It is concerned about hot-rolled flat steel products from China, India and Romania. 

The EU said it started the investigation, which can lead to the imposition of anti-dumping duties, following a complaint by the European Confederation of Iron and Steel Industries, known as Eurofer.

Eurofer alleged that imports of hot-rolled flat steel products from China, India and Romania had increased in absolute terms and in terms of market share, the European Commission said in a notice published in Thursday's EU Official Journal.

Eurofer alleged that the volume and prices of the imports had affected sales' levels and prices charged by EU producers, "resulting in a substantial adverse effect on the financial situation" of the EU industry, the Commission said. Interested parties have 40 days to submit information for the investigation, the commission said.

Eurofer has in recent months filed several anti-dumping complaints with the European Commission, complaining of a sharp increase in steel imports following last year's financial crises in Asia and Russia.