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Overseas Cold Rolled Producers Benefiting From Unfair Subsidies, U.S. Commerce Department Rules

The determination arises from a complaint filed in July by several U.S. producers, including AK Steel, United States Steel Corporation and Nucor Corp. "AK Steel is pleased that the Commerce Department has made a preliminary ruling that certain imports of cold-rolled steel are being unfairly subsidized," said AK Steel chairman and CEO James L. Wainscott Ina statement. "The domestic steel industry continues to suffer devastating injury caused by dumped and subsidized imports. Today's preliminary ruling is yet another important step in stopping the flood of these unfairly traded imports," he said. South Korea also was named in the complaint, but the department declined to impose a countervailing duty on products from that country. The department will next make preliminary anti-dumping determinations regarding products from the four countries, along with South Korea, Japan and the United Kingdom. Japan and the U.K. were not named in the countervailing duty petitions. The preliminary ruling is expected in February 2016. U.S. producers are seeking anti-dumping duties ranging from 42.28 percent to 320.45 percent.