Commerce Finds Dumping, Subsidization of PC Strand from China
05/18/2010 - In the antidumping duty investigations on imports of prestressed concrete steel wire strand from China, the Department of Commerce has determined that Chinese producers/exporters have sold the product in the U.S. at 42.97 to 193.55%. In the countervailing duty case, Commerce determined that Chinese producers/exporters have received net countervailable subsidies ranging from 8.85 to 45.85%.
In the antidumping duty (AD) investigations on imports of prestressed concrete steel wire strand from P.R. of China, the Department of Commerce has determined that Chinese producers/exporters have sold PC strand in the United States at 42.97 to 193.55%.
Mandatory respondent Xinhua Metal Products Co., Ltd. (Xinhua Metal) received a final dumping rate of 175.94%. The voluntary respondent, Wuxi Jinyang Metal Products Co. (WJMP), received a final dumping rate of 42.97%. Fasten Group Import & Export has qualified for a separate rate of 175.94%. All other Chinese producers/exporters will receive a final dumping rate of 193.55%.
In the countervailing duty (CVD) case, Commerce determined that Chinese producers/exporters of PC strand have received net countervailable subsidies ranging from 8.85 to 45.85%.
Mandatory respondents Fasten Group Import & Export and Xinhua Metal received final subsidy rates of 8.85% and 45.85%, respectively. All other producers/exporters received a subsidy rate of 27.35%.
As a result, Commerce will instruct U.S. Customs and Border Protection (CBP) to collect a cash deposit or bond based on these final rates, adjusted for export subsidies found in the final determination of the companion CVD investigation. Fasten Group I&E received an export subsidy rate of 0.09%; Xinhua Metal received an export subsidy of 0.20%; and all other exporters received an export subsidy of 0.055%.
Commerce will instruct CBP to collect an AD cash deposit or bonding rate of 175.85% for Fasten I&E; 175.74% for Xinhua Metal; and 42.42% for WJMP.
Petitioners for these investigations are American Spring Wire Corp., Insteel Wire Products Co., and Sumiden Wire Products Corp.
In 2009, imports of PC strand from China were valued at an estimated $13 million.
The U.S. International Trade Commission (ITC) is currently scheduled to issue its final injury determination on or before June 28, 2010. If it makes an affirmative final determination that imports of PC strand from China materially injure, or threaten material injury to, the domestic industry, Commerce will issue AD and CVD orders.
