The European Union threatened to hit Russia, Ukraine, Serbia, Iran and Brazil with tariffs on a type of steel known as hot-rolled coil, highlighting concerns about job losses in the EU industry.
The European Commission opened a probe into whether exporters of hot-rolled coil in the five nations sold it in the EU below cost, a practice known as dumping. The EU market for hot-rolled coil, a bread-and-butter product used in everything from cars to construction and manufactured in Europe by such companies as ArcelorMittal and ThyssenKrupp AG, is worth about 10 billion euros ($11.1 billion).
This is the latest in a series of EU steel-trade cases that target mainly China, the No. 1 producer of the metal. Chinese hot-rolled coil is the focus of an EU dumping investigation opened in February and of a European subsidy probe begun in May.

Source: Arab News