Steel Mills
Steel Mills ask DOC to Revoke Suspension Agreement on Russian CTL Steel Plate
Written by Sandy Williams
May 6, 2015
Nucor, SSAB, and ArcelorMittal USA have petitioned the Department of Commerce to overturn a suspension trade deal that excuses Russian producers of cut-to-length (CTL) steel plate from paying import duties.
The three steel mills said increasing exports of low-priced CTL steel plate to the U.S. is injuring the domestic industry.
A suspension agreement signed in 1997 and amended in 2003 defers anti-dumping duties on steel plate products from Russia.
“The suspension agreement and its normal value pricing mechanism have failed to function as originally intended, and instead have facilitated Russian producers’ exports of large and increasing volumes of low-priced CTL plate to the U.S. market,” the companies said in the submission to the DOC.
If the suspension agreement is revoked, Severstal will be assessed antidumping duties of 53.8 percent and other Russian producers duties of 185.00 percent, according to information reported by Reuters.
Last week an action was brought against Chinese producers of CTL steel plate by Nucor and SSAB. The Chinese producers are accused of adding alloy to carbon steel products to circumvent import duties on CTL steel plate.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Millett sees tariffs, CORE case benefiting SDI
Steel Dynamics' top exec thinks Trump’s tariff policies, as well as the results from the recent CORE case, will prove advantageous to the Fort Wayne, Ind.-based steelmaker and aluminum company.
USW digs in on opposition to USS-Nippon deal
“We remain deeply concerned about the national and economic security implications of the subject transaction,” the union stated in the letter dated April 21.
SDI’s Q1 earnings slump on-year, but up sequentially
SDI earnings slip in first quarter year over year, but are up sequentially.
POSCO inks MoU with Hyundai on Louisiana EAF mill
POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.
CRU: Tata Steel looks to shed 1,600 jobs in the Netherlands
The company said, “The challenging demand conditions in Europe driven by geopolitical developments, trade and supply chain disruptions and escalating energy costs have affected the operating costs and financial performance."