Antidumping, Countervailing Duties On Hot-Rolled Steel Coil Sought By Us Steel Producers

The imposition of antidumping and countervailing duties on certain hot-rolled steel coil from Australia, Brazil, Japan, the Netherlands, South Korea, Turkey and the UK has been sought by Six US steel producers — AK Steel, ArcelorMittal USA, Nucor, SSAB, Steel Dynamics and US Steel.

According to a filing with the US Department of Commerce, the petitioners allege that hot-rolled steel from the seven countries is “being, or is likely to be, sold in the United States at less than fair value.” In addition, “petitioners further allege that the governments of Brazil, [South] Korea and Turkey are providing countervailable subsidies.”

The filing states that the steelmakers request antidumping duties to be imposed on hot-rolled steel from all seven countries; however, countervailing duties would be imposed only on imports from Brazil, South Korea and Turkey. US hot-rolled coil producers alleged dumping margins of roughly 19%-200%, depending on the country of origin.

The alleged dumping rates are 99.20% for Australia, 21.80% for Brazil, 19.53-30.90% for Japan, 55.21-173.17% for the Netherlands, 86.96-158.93% for South Korea, 96.44-200.78% for Turkey and 50.63-161.75% for the UK.

The petitions also allege that the foreign producers in Brazil, South Korea and Turkey benefit from numerous countervailable subsidies provided by their governments. The petitions identify 33 different subsidy programs in Brazil, 41 subsidy programs in South Korea and 17 subsidy programs in Turkey.

China is not one of the countries named in these petitions, because imports of hot-rolled steel from China are already subject to an antidumping order.

The petitions were filed concurrently with the US Department of Commerce and the US International Trade Commission.

According to the filing, between June 2014 and May 2015 the seven countries accounted for 54.2% of the 7.37 million st of hot-rolled coil imports into the US. South Korea was responsible for 18.9% of the hot-rolled coil import market share; Turkey, 7.5%; the Netherlands, 6.6%; Japan, 6.3%; Brazil, 6.1%; and Australia, 4.7%.

Excluding Canada and Mexico during that time frame, the seven countries accounted for 80.1% of carbon hot-rolled coil imports.

This is the third filed flat-rolled sheet trade case in the past 2 1/2 months as US producers filed petitions against corrosion-resistant imports at the start of June and followed up with petitions against cold-rolled imports at the end of July.

The Commerce Department will determine whether to initiate the antidumping and countervailing duty investigations within 20 days of filing.

The USITC will reach a preliminary determination of material injury or threat of material injury within 45 days of filing.

The entire investigative process will take approximately one year, with final determinations of dumping, subsidization, and injury likely in summer 2016.

Hochiminh – 11 Aug 2015 443 pm EDT/2043 GMT

–Michael Fitzgerald,聽michael.fitzgerald@platts.com
–Edited by Jason Lindquist,聽jason.lindquist@platts.com

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