The United States on Wednesday slapped import duties of up to 227.29 percent on imports of cold-rolled flat steel from China after finding the goods were produced using unfair levels of government support.
In a preliminary decision, the Department of Commerce set duties on imports from Brazil, China, India and Russia. The steel is used in industries ranging from auto manufacturing to construction.
The duties will affect companies including Benxi Iron and Steel (Group) Special Steel Co [LNGOVB.UL] after a complaint by AK Steel Corp [AKST.UL], ArcelorMittal USA [ARCMTR.UL], Nucor Corp, Steel Dynamics Inc. and United States Steel Corp.
The Department of Commerce is still to hand down preliminary rulings on anti-dumping duties on the goods.