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U.S. Producers Seeking Trade Relief From Cold-Rolled Imports
07/29/2015 - Several major U.S. steel producers -- AK Steel Corp., ArcelorMittal USA LLC, Nucor Corp., Steel Dynamics Inc., and U.S. Steel Corp. -- have filed petitions charging that foreign producers from eight countries are are dumping cold-rolled steel at substantial margins, harming the domestic industry.
The petitions, filed against from Brazil, China, India, Japan, South Korea, Netherlands, Russia and the United Kingdom, allege that foreign producers penetrated the U.S. market and captured a larger share of it by significantly undercutting domestic prices. As a result, U.S. producers have suffered significant declines in production, shipments, prices and profits, the domestic producers said.
"A surge of dumped and subsidized imports of cold-rolled steel has caused severe injury to the U.S. industry with no end in sight," the producers said in a joint statement. "In the absence of trade relief, subject imports will continue pouring into this market, causing substantial harm to U.S. mills and their workers," the American producers said in a joint statement.
The petitions, filed concurrently with the U.S. Department of Commerce and the U.S. International Trade Commission, allege that producers in each of the eight countries are dumping cold-rolled products at margins ranging from 42.28 percent to 320.45 percent.
The petitions also allege that producers in Brazil, China, India, South Korea and Russia benefit from numerous countervailable subsidies provided by their governments. The petitions identify 28 different subsidy programs in Brazil; 46 subsidy programs in China; 47 subsidy programs in India; 45 subsidy programs in South Korea; and 14 subsidy programs in Russia.
The products covered by these petitions are certain cold-rolled (cold-reduced), flat-rolled steel products, whether or not in coils and regardless of thickness, that are not clad, plated, or coated with metal. The subject products include cold-rolled steel that is annealed, painted, varnished, or coated with plastics or other non-metallic substances.
According to the U.S. producers, imports from the eight countries have increased by about 120 percent from 2012 to 2014, rising from 798,000 tons to 1.75 million tons. As a result, the foreign producers collectively have doubled their share of the U.S. market. Meanwhile, the domestic industry's share of the U.S. market declined, the producers said.
The petitioning companies are represented by King & Spalding LLP (AK Steel Corp.); Kelley Drye & Warren LLP (ArcelorMittal USA LLC); Wiley Rein LLP (Nucor Corp.); Schagrin Associates (Steel Dynamics Inc.); and Skadden, Arps, Slate, Meagher & Flom LLP (U.S. Steel Corp.)
"A surge of dumped and subsidized imports of cold-rolled steel has caused severe injury to the U.S. industry with no end in sight," the producers said in a joint statement. "In the absence of trade relief, subject imports will continue pouring into this market, causing substantial harm to U.S. mills and their workers," the American producers said in a joint statement.
The petitions, filed concurrently with the U.S. Department of Commerce and the U.S. International Trade Commission, allege that producers in each of the eight countries are dumping cold-rolled products at margins ranging from 42.28 percent to 320.45 percent.
The petitions also allege that producers in Brazil, China, India, South Korea and Russia benefit from numerous countervailable subsidies provided by their governments. The petitions identify 28 different subsidy programs in Brazil; 46 subsidy programs in China; 47 subsidy programs in India; 45 subsidy programs in South Korea; and 14 subsidy programs in Russia.
The products covered by these petitions are certain cold-rolled (cold-reduced), flat-rolled steel products, whether or not in coils and regardless of thickness, that are not clad, plated, or coated with metal. The subject products include cold-rolled steel that is annealed, painted, varnished, or coated with plastics or other non-metallic substances.
According to the U.S. producers, imports from the eight countries have increased by about 120 percent from 2012 to 2014, rising from 798,000 tons to 1.75 million tons. As a result, the foreign producers collectively have doubled their share of the U.S. market. Meanwhile, the domestic industry's share of the U.S. market declined, the producers said.
The petitioning companies are represented by King & Spalding LLP (AK Steel Corp.); Kelley Drye & Warren LLP (ArcelorMittal USA LLC); Wiley Rein LLP (Nucor Corp.); Schagrin Associates (Steel Dynamics Inc.); and Skadden, Arps, Slate, Meagher & Flom LLP (U.S. Steel Corp.)
