US to start investigation against Chinese Steel companies

UNITED STATES November 14 2016 10:29 AM
NEW YORK (Scrap Register): A formal investigation will be carried out by the US commerce department against the Chinese Steel companies.

The Chinese companies which are accused of shipping Steel through Vietnam to avoid US import tariffs will come under the investigation.

The investigation is followed by complaint from US Steel producers who wanted to stop low priced Steel flow from China. US introduced 266 percent anti-dumping duty on Chinese Steel products.

In the first six months of 2016 shipment of Steel from Vietnam to US increased to 312,329 tons from 25,756 tons during the same period last year, as per Global Trade Information Service data.

Chinese Steel exports to Vietnam rose by almost 50 percent to 6.3 million tons compared to the same period last year.