Minews - EU imposes anti-dumping duties on Russian aluminum foil

(Minews) - The European Union will impose anti-dumping duties on imports of Russian aluminum foil after an initial investigation showed the product was sold in the 28-nation EU at below normal market prices, the EU's Official Journal said on Saturday.

It said a provisional anti-dumping duty of 12.2 percent will be levied from Sunday on imports of aluminum foil from Russia, which is all made by the Rusal group, the world's largest aluminum producer.

"On the basis of the conclusions reached by the (European) Commission ... provisional measures should be imposed to prevent further injury being caused to the Union industry by the dumped imports," the notice in the journal said.

The provisional duties last for six months, by which time the EU's executive Commission will have completed its investigation, which may result in the imposition of definitive duties normally lasting five years.

Rusal said in an emailed comment that it would continue to work with the Commission as it completed its investigation.

It voiced hope that, at the end of the process, "when the Commission takes our arguments into account, the duties may be decreased or canceled."

The Commission launched its investigation last October after receiving a complaint from several European producers of aluminum foil.

The aluminum market is suffering from oversupply, putting downwards pressure on prices.

The EU's relations with Russia are strained over the Ukraine crisis, which led the EU to impose economic sanctions on Moscow and Russia to respond with a ban on most Western food imports.