Aug. 5, 2015
U.S. Producers File Cold-Rolled Trade Case
Five U.S. producers of cold-rolled steel have filed antidumping and countervailing duty petitions against eight countries. The antidumping petitions charge that unfairly traded imports of cold-rolled steel from Brazil, China, India, Japan, South Korea, the Netherlands, Russia and the United Kingdom are causing material injury to the domestic industry.
The countervailing duty claim alleges that significant subsidies have been provided to producers by the governments of Brazil, China, India, South Korea and Russia.
“AK Steel and the domestic industry have been facing a surge of what we believe are unfairly dumped and subsidized imports of cold-rolled steel coming into this country,” says James L. Wainscott, chairman, president and CEO of AK Steel, one of the petitioners. “The negative impact to our company and to other U.S. producers has been significant in terms of pricing, production, sales and earnings.”
AK Steel was joined in filing the petitions by Arcelor Mittal USA, LLC, Nucor Corp., Steel Dynamics, Inc., and United States Steel Corp. The U.S. producers seek dumping margins ranging from 42 percent from India to 265.8 percent from China.
The petitions were filed in response to large and increasing volumes of low-priced imports of cold-rolled steel from the subject countries over the past three years. Cold-rolled imports from the eight countries increased by 120 percent between 2012 and 2014 to 1.75 million tons. These imports increased further from January through May of 2015, compared to the first five months of 2014.