Monday, December 20, 2004

Iranian Steel better than EU Steel

EU court acquits Iran's Foulad Mobarakeh of dumping charges: "EU court acquits Iran's Foulad Mobarakeh of dumping charges

Tehran, Feb 3, IRNA -- Director-General of Foulad Mobarakeh Steel Company Mahmoud Eslamian has said that the European Court of Justice (ECJ) has acquitted the company of charges of dumping in the EU steel market, the press reported here on Monday.

The Persian-language `Afarinesh' daily quoted Eslamian as saying that the European Union (EU) had earlier lodged a complaint against the company for allegedly offering steel products at prices much lower than the EU market.

Eslamian said the cost price of Iran's steel products are much lower than those offered by European producers considering that Iran possesses cheap energy and mineral resources.

He further put the annual volume of Mobarakeh exports of steel sheets to Europe at 200,000 tons, stressing that if the EU's restrictions on steel imports are removed, the company will be able to increase the volume to as much as 400,000 tons."

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