The European Union has set import duties on Chinese corrosion resistant steel to counter what it says is unfairly low prices.

FILE PHOTO: A worker helps load steel bars onto a truck at warehouse in Tangshan in China’s Hebei Province August 3, 2015. Photo: REUTERS/Damir Sagolj/File Photo

The duties will range from 17.2 to 27.9 percent, very similar to the tariffs already set on a provisional basis in August, the EU official journal said on Thursday. The provisional rates were from 17.2 to 28.5 percent.

They will apply for five years.