By Paul Ploumis (ScrapMonster Author)
March 07, 2016 01:44:54 AM
SPOKANE (Scrap Monster): The US Department of Commerce (DOC) has initiated antidumping and countervailing duty investigations on stainless steel products imported from China. The investigations are in response to trade case petitions filed by US domestic producers AK Steel, ATI Flat Rolled Products, North American Stainless and Outokumpu Stainless USA.
The investigations could result in increased import tariffs on imported Chinese stainless steel sheets and narrow strips. The DOC fact sheet indicates that alleged dumping margins range between 51.07% and 76.64%. An initial determination by the International Trade Commission (ITC) is expected by March 28th. In case of an affirmative decision, the DOC and ITC will continue their investigations. A preliminary determination in subsidy investigation is expected by May 9th. Also, preliminary finding in the anti-dumping investigation is expected by July 21st.
Earlier, the DOC had introduced preliminary import tariffs on cold-rolled steel from seven countries including China. The administration is also planning to introduce duties on more steel products, following complaints by AK Steel and U.S Steel that products from China, Brazil and Russia are being dumped into US markets.
Meantime, Chinese administration has raised opposition to the frequent trade investigations by the US on its products. The Chinese Ministry of Commerce (MOC) in a statement hoped that the investigations by the US are not in violation of WTO rules. It called upon US authorities to ensure that investigations are conducted in an objective and fair manner. The Ministry noted that steel overcapacity is a global issue. According to MOC, coordinated effort from all sides is needed to solve the issue. It noted that the country has already taken drastic measures to curb excess capacity.