EU sets dumping duties on steel from Brazil, Russia

BRUSSELS, Oct 6 (Reuters): The European Union (EU) has decided to set duties on hot-rolled steel from Brazil, Iran, Russia and Ukraine after a complaint by EU manufacturers that the product used for construction and machinery was being sold at excessively low prices.

The European Union (EU) will levy anti-dumping tariffs of between 17.6 and 96.5 euros ($20.6-112.8) per ton from Saturday, the European Union's official journal said on Friday. The European Commission had initially proposed setting a minimum price - of 472.27 euros per ton - but revised its proposal after failing to secure backing from EU member states.

Among the companies subject to tariffs were the Brazil arms of ArcelorMittal and Aperam, both of which also produce in Europe, Companhia Siderugica Nacional, Usinas Siderugicas de Minas Gerais and Gerdau - at rates between 53.4 and 63.0 euros per ton.

Iranian steel would be subject to a duty of 57.5 euros per ton and Ukraine's Metinvest Group 60.5 euros.

Rates for Russia producers varied from 17.6 euros for PAO Severstal, 53.3 euros for Novolipetsk Steel to 96.5 euros per ton for MMK.

The Commission also ended its investigation into Serbian steel imports without proposing measures.

Another report from Berlin adds: Labour bosses at Germany's Thyssenkrupp said workers' legal say in strategic decisions at the corporate level could be diluted in the planned holding structure for the new venture with India's Tata Steel.