October 25, 2017 / 11:16 PM / 2 years ago

U.S. finds seven countries dumped steel wire rod

WASHINGTON, Oct 25 (Reuters) - The U.S. Commerce Department on Wednesday said it made an initial finding that carbon and alloy steel wire rod from Italy, South Korea, South Africa, Spain, Turkey, Ukraine and Britain were being sold in the U.S. market at less than fair value and imposed antidumping duties of up to 147.63 percent.

Wire rod is a hot-rolled intermediate steel product used in a variety of other intermediate and end-use goods.

In the Italy investigation, Commerce set preliminary antidumping margins for privately owned Ferriere Nord SpA and all other producers and exporters at 22.06 percent. Imports of wire rod from Italy were estimated at $12.2 million. In the probe of South Korea, with imports estimated at $45.6 million, the margin was set at 10.09 percent for POSCO and all others.

For South Africa’s producers, the privately owned Scaw Metals Group and Consolidated Wire Industries, the dumping margin was set at 142.26 percent. All other producers/exporters in South Africa were assigned a rate of 135.46 percent. South Africa imports were estimated at $7.1 million.

In the Spain investigation, Commerce said ArcelorMittal Espana SA, a unit of ArcelorMittal SA, was dumping at a margin of 32.64 percent. All other Spanish producers and exporters were slapped with a margin of 20.25 percent. Imports from Spain were estimated at $40.7 million.

For Turkey, with imports estimated at $41.4 million, two privately owned producers were slapped with margin rates ranging from 2.8 percent (Habas Sinai ve Tibbi Gazlar Istihsal Endustrisi AS) to 8.01 percent (Icdas Celik Enerji Tersane ve Ulasim Sanayi AS). All other producers and exporters in Turkey were assigned a preliminary dumping rate of 5.41 percent.

In the Ukraine probe, the dumping margin was set at 44.03 percent for ArcelorMittal unit ArcelorMittal Steel Kryvyi Rih OJSC and Public Joint Stock Company Yenakiieve Steel. All other Ukrainian producers were assigned a preliminary rate of 34.98 percent. Ukraine imports were estimated at $55 million.

In the United Kingdom investigation, Commerce set a dumping margin for privately owned Longs Steel UK Limited at 147.63 percent and for British Steel Ltd and all other producers and exporters at 41.96 percent. UK imports were estimated at $20.5 million.

Commerce is scheduled to announce its final antidumping decisions on Jan. 9.

The trade action followed petitions filed on behalf of Gerdau Ameristeel US Inc of Florida, a unit of Metalurgica Gerdau SA, Nucor Corp of North Carolina, Keystone Consolidated Industries of Texas and Charter Steel of Wisconsin. (Reporting by Eric Walsh; Editing by Leslie Adler)

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