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BUZZ-European steelmakers: Fall as Australia imposes duties on Chinese steel

Reuters - UK Focus

** Shares (Berlin: DI6.BE - news) of European steelmakers fall after Australia is set to impose dumping duties on Chinese steel

** Stoxx 600 basic resources down 2.5 pct

** BHP Billiton (NYSE: BBL - news) (-4 pct), Anglo American (LSE: AAL.L - news) (-3.5 pct), Rio Tinto (LSE: RIO.L - news) (-2.9 pct) and Glencore (Amsterdam: GX8.AS - news) (-2.8 pct) are top fallers

** The Australian Anti-Dumping Commission found China's steel had been exported at prices below manufacturing costs and had caused "material injury" to the Australian steel industry

** Despite efforts to cut supply, China says March output was a record with further increases expected in April and May