U.S. Commerce Department Slaps Preliminary Duties On Chinese Cut-To-Length Plate
As reported by Metal Miner, last Wednesday, the U.S. Commerce Department imposed preliminary duties of more than 210 percent on imports of carbon and alloy steel cut-to-length plate from China. (The department determined imports of the product from South Korea did not warrant action.)
According to Metal Miner, “In the China investigation, Commerce calculated preliminary subsidy rates of 210.50% for mandatory respondents Jiangyin Xingcheng Special Steel Works Co. Ltd., Hunan Valin Xiangtan Iron & Steel, and Viewer Development Co., Ltd. based on the application of adverse facts available.” Additionally, “all other producers/exporters in China have also been assigned a preliminary subsidy rate of 210.50 percent.”
The ruling means that U.S. Customs and Border Protection will now have to require cash deposits based on these preliminary rates.
According to Politico’s “Morning Trade,” the United States imported $70 million worth of the steel plate from China in 2015. The Commerce Department is expected to make its final duty determinations in January.
Three firms, ArcelorMittal USA, Nucor, and SSAB Enterprises petitioned for the duties.