The Trade Remedies Authority (TRA) has proposed that anti-dumping measures on imports of High Fatigue Performance Steel Concrete Reinforcement Bars (HFP Rebar) from China should be revoked in order to meet demand from the UK's construction industry.
In its Statement of Essential Facts, available HERE, it explains that keeping the measures, which have been in place since 2016, would not be in the economic interests of the UK as there is currently a high demand for affordable imported HFP Rebar.
All of the TRA’s transition reviews involve an Economic Interest Test to consider the economic impacts — both beneficial and harmful — of imposing a trade remedy measure.
In this case, it found that the economic impact of maintaining the anti-dumping measures would be severe, particularly to the UK construction sector which is worth over £108 billion annually to the UK economy.
HFP Rebar, also known as reinforcement steel and reinforcing steel, is typically used in the construction industry to reinforce concrete and masonry structures in order to strengthen and hold the concrete in tension.
The TRA found a high likelihood that there will be continued high demand for HFP Rebar.
However, in 2020–21, 27% of total Rebar imports came from Belarus, Russia and Ukraine. These imports are likely to drop substantially as a result of the Russian invasion of Ukraine and the resulting sanctions.
As such, high demand and an anticipated shortfall of supply means continuing the measure would increase prices paid domestically.
There will be a 30-day period in which interested parties can comment on the TRA report. Comments can be submitted HERE.
