Steel Products

Preliminary CVD Duties on Chinese Tool Chests
Written by Sandy Williams
September 12, 2017
The U.S. Commerce Department today announced an affirmative preliminary determination in the countervailing duty investigation on exports of metal tool chests and cabinets from China. Commerce calculated preliminary subsidy rates ranging from 17.32 percent to 32.07 percent.
U.S. imports of tool chests and cabinets from China were valued at an estimated $989.9 million in 2016, compared to $658.1 million in 2014. The investigation was initiated following a petition filed in April by Waterloo Industries, Sedalia, Mo.
{loadposition reserved_message}
“The subsidization of goods by foreign governments is something the Trump administration takes very seriously,” said Secretary of State Wilbur Ross. “The Department of Commerce will continue to stand up for American workers and businesses in order to ensure that China does not take advantage of the most open market in the world.”
Commerce will announce its final determination by Nov. 23. The U.S. International Trade Commission is expected to make its final determination on injury or threatened harm to the domestic industry by Jan. 6, 2018. If both determinations are affirmative, Commerce will issue CVD orders.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products

US rig count up, Canada declines
Oil and gas drilling activity was mixed this week, according to Baker Hughes. US rig counts expanded for a second straight week, while Canadian activity continued its seasonal slowdown of eight consecutive weeks.

US, offshore CRC prices continue to diverge
US cold-rolled (CR) coil prices declined again this week, slipping for a third straight week. Most offshore markets did the opposite, moving higher this week.

S232 lifts EU HR price over US, Asian HR still well behind
Domestic hot-rolled coil prices were flat this week after dropping for four straight weeks. Most offshore markets bucked the trend and gained ground.

SMU Steel Demand Index dips into contraction
SMU’s Steel Demand Index has moved into contraction, according to late April indicators. The slowdown comes in response to growing tariff uncertainty after the index reached a four-year high in late February.

Nucor selects Fives Group for new galv line at CSI
Nucor Corp. has tapped Fives Group as its partner in designing and manufacturing the new continuous galvanizing line being added at its California Steel Industries (CSI) joint venture in Fontana, Calif.