U.S. Producers Seeking Trade Measures Against Hot Rolled Steel Imports
08/12/2015 - Six U.S. steelmakers have filed petitions for trade action against imports of hot rolled flat products, the producers have announced.
In concurrent complaints before the Department of Commerce and the U.S. International Trade Commission, the group contends that imports from Australia, Brazil, Japan, South Korea, the Netherlands, Turkey and the United Kingdom are being sold into the market at less than fair value, harming the domestic industry.
The group is alleging dumping margins of between 19.53 percent and 200.78 percent. It also said that producers in Brazil, South Korea, and Turkey are benefitting from numerous subsidies provided by their governments.
The petition was filed by AK Steel, ArcelorMittal USA, Nucor Corp., SSAB Enterprises, Steel Dynamics Inc. and U.S. Steel Corp.
"AK Steel and other domestic steel manufacturers have been significantly impacted by the onslaught of what we believe are unfairly traded imports of hot-rolled steel," said AK Steel chairman and CEO James L. Wainscott in a statement.
"Imports have been flooding our shores, substantially reducing selling prices, shipment volumes, and earnings."
The producers contend that imports of low-priced, hot rolled flat products have been rising since 2012, increasing by 73 percent to 3.3 million tons during that time.
"Subject imports have continued to surge during 2015, increasing by a further 54 percent in January-May 2015 compared to January-May 2014," the companies said in a statement.
The group is alleging dumping margins of between 19.53 percent and 200.78 percent. It also said that producers in Brazil, South Korea, and Turkey are benefitting from numerous subsidies provided by their governments.
The petition was filed by AK Steel, ArcelorMittal USA, Nucor Corp., SSAB Enterprises, Steel Dynamics Inc. and U.S. Steel Corp.
"AK Steel and other domestic steel manufacturers have been significantly impacted by the onslaught of what we believe are unfairly traded imports of hot-rolled steel," said AK Steel chairman and CEO James L. Wainscott in a statement.
"Imports have been flooding our shores, substantially reducing selling prices, shipment volumes, and earnings."
The producers contend that imports of low-priced, hot rolled flat products have been rising since 2012, increasing by 73 percent to 3.3 million tons during that time.
"Subject imports have continued to surge during 2015, increasing by a further 54 percent in January-May 2015 compared to January-May 2014," the companies said in a statement.
