The recent anti-circumvention investigation initiated by the European Commission into stainless steel cold-rolled flat products originating in Indonesia has indeed had a significant impact on international trade. After the investigation was launched, the EU immediately took registration measures against imported products from Taiwan, Turkey, and Vietnam, resulting in a significant reduction in the quota usage of these three countries.

It is understood that Europe's economy is being affected by high inflation and rising interest rates, and European steel buyers are not that interested in importing. One of the main reasons is the nine-month anti-circumvention investigation and the possible subsequent introduction of retroactive tariffs, according to members of the European Parliament.

The European Commission said Eurofer had evidence claiming that Indonesian stainless steel slabs and hot-rolled flat products were being shipped to Taiwan, Turkey, and Vietnam for finishing or assembly so that the value of the stainless steel used still accounts for more than 60% of the value of finished products exported to the EU.