Chinese steel being dumped in US: Commerce Department
The US Commerce Department on Monday said it had made a preliminary finding that imports of stainless steel sheet and strip from China are being dumped in the US market at below fair value.
The department set preliminary anti-dumping duties ranging from 63.86 per cent and 76.64 per cent.
Any final decision to lock in duties would be subject to a finding by the US International Trade Commission that domestic producers had been damaged.
The companies that had sought an investigation are AK Steel Corp, Allegheny Ludlum LLC , ATI Flat Rolled Products, North American Stainless and Outokumpu Stainless USA LLC.
Separately, the US International Trade Commission handed another victory to American steelmakers on Monday, affirming most of the recent anti-dumping and anti-subsidy duties on hot-rolled flat steel imports from Australia, Brazil, Britain, Japan, the Netherlands, South Korea and Turkey.
The commission rejected anti-subsidy duties of about 6 per cent against hot-rolled steel from Turkey, but affirmed anti-dumping duties of about 6 to 7 per cent against Turkish-made hot-rolled steel.
The vote locks in import taxes on the affected products for five years. The duties are among a series of US actions aimed at fighting a glut of steel imports as China’s economy slows and demand remains weak elsewhere.
The ITC vote affirmed final anti-subsidy duties of 3.9 to 11.3 per cent against most steelmakers in Brazil and South Korea, but top Korean steelmaker POSCO and Daewoo International Corp face anti-subsidy duties of about 57 per cent.
The highest anti-dumping taxes of 34.3 per cent were imposed against Brazil’s Usiminas, with all other Brazilian producers facing 33.1 per cent margins and just over 11 per cent anti-subsidy duties.
The Brazilian government has threatened to challenge US duties before the World Trade Organization in a separate case involving cold-rolled steel imports.
Britain’s Tata Steel UK will pay US anti-dumping duties to of about 33 per cent, while Tata Steel’s Netherlands operations faces final dumping duties of 3.73 per cent.
Used in automotive applications, construction, tubing and heavy machinery, hot-rolled steel imports from the seven countries more than doubled to nearly US$2 billion last year, with the largest share, about $650 million, coming from South Korea. (