A PYMNTS Company

Peru: Steelmaker shuts its doors; points finger at Chinese ‘dumping’

By  |  August 2, 2016

Peruvian steelmaker Aceros Arequipa announced last week the closing down of its production plant located in Ciudad Blanca, in southern Peru.

“Unfair competition, created by the import of steel bars from China at below dumping levels, have caused our production plant located in Arequipa to become unable to compete given the current economic climate”, said the company’s statement before the country’s stock-market regulator.

The steelmaker’s statement indicated that, in the preceding year and a half, they have twice appealed before the Dumping and Subsidies Prosecution Commission at the Peru’s market regulator, INDECOPI, asking the agency to begin an investigation against Chinese import practices and various allegations of dumping. However, neither request has so far been resolved.

Full Content: El Comercio

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.