Gallery

2022-06-17 08:57:32 By : Mr. Nicolas Wong

Workers ride on an motor rickshaw through an aluminium ingots depot in Wuxi, Jiangsu province September 26, 2012. REUTERS/Aly Song

LONDON, May 20 (Reuters) - Britain may impose anti-dumping duties of up to 29% on aluminium extrusions from China to protect domestic producers, a trade agency said on Friday.

Aluminium extrusions - widely used in the transport, construction and electronics industries - are being dumped in Britain at lower prices than they are sold in China, the Trade Remedies Authority said in a interim report.

"The TRA determined that there is already damage to the UK industry, having found clear evidence of price undercutting, indicating that UK businesses are struggling to compete with the dumped imports," a statement said.

Provisional measures will be imposed as the TRA completes its investigation, requiring Chinese companies exporting to Britain to provide a bank guarantee beginning on May 28, it added.

Duties ranging from 7.3% to 29.1% were recommended, depending on the company and the level of dumping margin, the interim report said.

Three companies were named - Press Metal International Group, Shandong Nanshan (600219.SS) and Haomei Group - plus there were categories for other co-operating and non-cooperating exporters.

Press Metal International is a Chinese unit of Malaysia's Press Metal (PMET.KL).

The TRA was established after Britain left the European Union to investigate unfair trade practices and measures.

The aluminium extrusion investigation is the first one resulting from a British industry claiming unfair trade practices, the TRA said.

One major firm that produces aluminium extrusions in Britain is Norway's Norsk Hydro (NHY.OL)

Our Standards: The Thomson Reuters Trust Principles.

China will ban new steel, coking, oil refining, cement and glass projects in key zones, the government said on Friday in a wide-ranging policy document aimed at tackling pollution and meeting the country's climate goals.

A rare convergence in China of record rainfall, heatwaves and a tornado hitting the southern megacity of Guangzhou this week displaced millions of people, damaged properties and swamped farmland.

Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.

Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.

The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.

The industry leader for online information for tax, accounting and finance professionals.

Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.

Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.

Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.

All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.