U.S. confirms duties on Chinese steel wire rod imports

14/11/2014 12:00 - 539 Views

Nov 14 (Reuters) - The U.S. Department of Commerce confirmed steep duties on imports of carbon and alloy steel wire rod from China after ruling the products were being sold below cost in the U.S. market and received unfair levels of government subsidies.

Importers of goods from companies including Benxi Steel , Rizhao Steel Wire Co, Hunan Valin Xiangtan Iron & Steel Co and Jiangsu Shagang International Trade Co, a subsidiary of Jiangsu Shagang Group, face anti-dumping duties of up to 110.25 percent and anti-subsidy duties of up to 193.31 percent, according to a decision dated Thursday. (For details, see here)

The complaint about imports of carbon steel and alloy steel rod from China, which totaled $313 million in 2013, was made by ArcelorMittal USA, Charter Steel, Evraz Pueblo, Gerdau Ameristeel, Keystone Consolidated Industries and Nucor Corporation.

The U.S. International Trade Commission is to make its final decision in the case, which will determine whether duties go ahead, by Dec. 26.

Source: Reuters