Allege coated sheet dumping margins of 71-124%
US coated sheet steel producers filed allegations with US government agencies today alleging dumping margins of roughly 71-124%.
The petitioners alleged dumping margins of 120.2% for China; 71.09% for India; 123.76% for Italy; 80.06% for South Korea, and 84.4% for Taiwan.
The domestic mills – US Steel, ArcelorMittal USA, Nucor, Steel Dynamics, AK Steel and California Steel – are also pursuing countervailing duty investigations for all six countries. They’ve identified 48 subsidy programs in China, 88 in India, 12 in Italy, 43 in Korea and 22 in Taiwan.
The subject material, corrosion-resistant sheet, was defined in the government filings as sheet that “has been coated or plated with a corrosion- or heat-resistant metal to prevent corrosion and thereby extended the service life of the products made from steel. Steel coated with zinc, aluminum, or any of several zinc-aluminum alloys comprises most of the product at issue,” according to a press release from attorneys representing US mills in the cases.
“Imports of unfairly traded corrosion-resistant steel have devastated pricing in the US market, increased their share of the US market by undercutting US producers’ prices and caused injury to US producers and their workers,” the counsel for the domestic petitioners said in the release. “The domestic industry looks forward to the opportunity to present its case to the Commerce Department and US International Trade Commission to obtain relief from these unfairly priced imports.”
Commerce will decide whether it will initiate antidumping and countervailing duty investigations within 20 days, and the USITC will preliminarily determine within 45 days whether the domestic industry has been materially injured or threatened with material injury.
Commerce will make preliminary determinations in the subsidy investigation in 85 days, unless extended, and in the antidumping investigation in 160 days – unless extended. The trade investigations will likely conclude in the summer of 2016.
This from today’s breaking news on Steel Business Briefing