U.S. Commerce Department Proposes Big Dumping Margin on Chinese-Made Corrosion-Resistant Steel
12/23/2015 - The U.S. Department of Commerce has made a preliminary determination that steel producers in China, India, Italy and South Korea have dumped corrosion-resistant steel in the U.S.
As a result, the department is proposing duties of up to 256 percent, with the highest rate applying to Chinese producers. Producers in other countries are looking at duties of between 0 and 7 percent.
The action follows a complaint from United States Steel Corporation, Nucor Corp., ArcelorMittal USA, AK Steel Corp., Steel Dynamics Inc. and California Steel Industries Inc.
The companies had also named Taiwan in the complaint, but the Commerce Department declined, on a preliminary basis, to impose a duty. However, the department is continuing to investigate.
In a statement, AK Steel chairman and CEO James L. Wainscott said the company is pleased with the duty being applied to Chinese producers.
"However, we are disappointed that the preliminary dumping margins for India, Italy, South Korea and Taiwan were not higher, as they do not appear to adequately address the dumping that we believe is occurring in the U.S. market," he said.
The department is to make its final determinations by May.
The action follows a complaint from United States Steel Corporation, Nucor Corp., ArcelorMittal USA, AK Steel Corp., Steel Dynamics Inc. and California Steel Industries Inc.
The companies had also named Taiwan in the complaint, but the Commerce Department declined, on a preliminary basis, to impose a duty. However, the department is continuing to investigate.
In a statement, AK Steel chairman and CEO James L. Wainscott said the company is pleased with the duty being applied to Chinese producers.
"However, we are disappointed that the preliminary dumping margins for India, Italy, South Korea and Taiwan were not higher, as they do not appear to adequately address the dumping that we believe is occurring in the U.S. market," he said.
The department is to make its final determinations by May.
