Aug. 19, 2015
U.S. Producers File Hot-Rolled Trade Case Against Seven Countries
Six U.S. steel producers have filed antidumping and countervailing duty petitions alleging that producers in seven countries are selling hot-rolled steel in the U.S. market at less than fair value, causing harm to the domestic industry. The seven countries named in the suit include Australia, Brazil, Japan, South Korea, the Netherlands, Turkey and the United Kingdom. The petitioners seek dumping margins ranging from 19.5 percent on product from Japan to more than 200 percent on product from Turkey.
The petitions also allege that the foreign producers in Brazil, South Korea and Turkey benefit from numerous countervailable subsidies provided by their governments. The petitions identify 33 different subsidy programs in Brazil, 41 subsidy programs in South Korea and 17 subsidy programs in Turkey.
The filing was prompted by large and increasing volumes of low-priced imports of hot-rolled steel from the subject countries. Hot-roll imports from the seven countries grew by approximately 73 percent from 2012 to 2014, rising from 1.9 million tons to 3.3 million tons. Subject imports have continued to surge during 2015, the petitioners note, increasing by a further 54 percent in January-May, compared with the same period last year.
China is not one of the countries named in these petitions because its imports of hot-rolled steel are already subject to an anti-dumping order.
“AK Steel and other domestic steel manufacturers have been significantly impacted by the onslaught of what we believe are unfairly traded imports of hot-rolled steel,” says James L. Wainscott, chairman, president and CEO of AK Steel. “Imports have been flooding our shores, substantially reducing selling prices, shipment volumes and earnings.”
AK Steel was joined in the petition by ArcelorMittal, Nucor, SSAB Enterprises, Steel Dynamics, Inc., and U.S. Steel. The petitions were filed concurrently with the U.S. Department of Commerce and the U.S. International Trade Commission.