U.S. imposes duties after finding seven producers dumped steel plate

Thu Mar 30, 2017 5:26pm EDT
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WASHINGTON (Reuters) - The U.S. Department of Commerce made a final finding that seven foreign producers dumped certain carbon and alloy steel cut-to-length plate in the U.S. market, allowing it to impose duties ranging from 3.62 percent to 148 percent, Commerce Secretary Wilbur Ross said on Thursday.

The determinations of dumping, or selling a product below its fair price, apply to imports of CTL plate from Austria, Belgium, France, Germany, Italy, Japan, South Korea and Taiwan, Ross said.

In addition, there was a final finding that South Korean imports were subsidized, leading to a countervailing duty of 4.31 percent being slapped on those products, he said at a department event.

"A healthy steel industry is critical to our economy and manufacturing base, yet our steel industry today is under assault from foreign producers that dump and subsidize their exports," Ross told the audience.

In 2015, imports of CTL plate from the seven producers totaled $732 million, with those from Austria, Belgium, France, Germany, Italy, Japan, Korea and Taiwan valued at an estimated $14.2 million, $19.8 million, $179 million, $196.2 million, $37 million, $54.9 million, $210 million and $21 million, respectively, department figures show. (bit.ly/2mSZM1Z)

Cut-to-length steel is used in a wide range of applications, including buildings and bridgework; agricultural, construction and mining equipment; machine parts and tooling; ships, rail cars, tankers and barges; and large-diameter pipe.

The finding followed an investigation prompted by a petition from Nucor Corp and U.S. subsidiaries of ArcelorMittal SA and SSAB AB.

For Austrian producers and exporters, dumping duties on the Voestalpine group and all others were set at 53.72 percent.

They were 5.4 percent for Industeel Belgium, 51.78 percent for the NLMK Belgium group and 5.4 percent for all other Belgium producers and exporters.   Continued...

U.S. Commerce Secretary Wilbur Ross holds a news conference at the Department of Commerce in Washington, D.C., U.S. March 10, 2017. REUTERS/Eric Thayer