US Department of Commerce announced its decision to initiate antidumping and countervailing duty investigations on imports of certain prestressed concrete steel wire strand from the China.

The petitioners for these investigations are American Spring Wire Corp, Insteel Wire Products Company and Sumiden Wire Products Corp. The merchandise covered by these investigations consists of certain prestressed concrete steel wire strand which is a collection of wire rod bars, typically covered with an epoxy material and is primarily used in concrete construction applications.

The merchandise covered by these investigations is currently classified in the Harmonized Tariff Schedule of the United States under item numbers: 7312.10.3010 and 7312.10.3012. While the HTSUS subheadings are provided for convenience and customs purposes, Commerce’s written description of the subject merchandise governs the scope of these investigations.

From 2007 to 2008, imports of prestressed concrete steel wire strand from China increased 7.83% by volume and were valued at an estimated USD 178 million in 2008. This is the 15th antidumping and countervailing duty investigations against Chinese products and the 2nd in this year after oil country tubular goods.

The investigation alleges that Chinese government provides preferential loans, cheap raw materials, and preferential income tax, value added tax and tariff, government donation, preferential taxes for foreign funded enterprises and so on to prestressed concrete steel wire strand industry. Seven other items accused by the petitioners, such as exchange rate of RMB and export support donation are not included.

The US International Trade Commission is scheduled to make its preliminary injury determination on or about July 13th. If the ITC determines that there is a reasonable indication that imports are materially injuring, or threatening material injury to, the domestic industry, the investigations will continue and Commerce will be scheduled to make its preliminary CVD determination on August 20th and its preliminary AD determination on November 3rd.

MySteel.net

Source: www.steelprices-china.com