He CAP group announced this Wednesday his decision to indefinitely suspend steel activity at the Huachipato plantfollowing considering the measures once morest dumping of steel bars from China insufficient.

“After an exhaustive analysis of what was resolved by the Anti-Distortions Commission on the application of anti-dumping duties to imports of Chinese steel bars and balls, the board of directors of the Compañía Siderúrgica Huachipato (CSH) has been forced to make the painful decision to suspend -for an indefinite period- the company’s steel operations in Talcahuano,” they reported in a statement.

The Chilean steel company regrets the rates defined by the Anti-Distortion Commission for steel imports from China, considering them insufficient to counteract the irregularities identified.

In an official statement, the company stated that “We appreciate that the Anti-Distortion Commission has identified the existence of significant irregularities in steel imports from China, as well as the efforts of the authorities. Unfortunately, the defined rates are lower than those requested by the company and, furthermore, differentiated by producer and exporter. This is because all the producing companies are controlled by the Chinese State and, furthermore, they are large, so in practice all the steel that will be exported to Chile might be derived from the company to which apply the lowest surcharge, eliminating any possibility of competing on equal terms.”