The U.S. International Trade Commission (ITC) made a unanimous preliminary determination today that unfairly-traded imports of stainless steel sheet and strip are causing injury to U.S. producers. The preliminary injury determination means that the cases against imports from China will proceed.
AK Steel Corporation, Allegheny Ludlum, LLC d/b/a ATI Flat Rolled Products, North American Stainless, and Outokumpu Stainless USA, LLC, the four principal U.S. producers of stainless steel sheet and strip, filed antidumping and countervailing duty petitions on February 12, 2016, charging that unfairly traded imports of stainless steel sheet and strip from the People's Republic of China ("China") are causing material injury to the domestic industry. The U.S. producers also filed a countervailing duty petition alleging that the government of China provided significant subsidies to Chinese stainless steel sheet and strip producers.
As a result of the Commission's affirmative determination, the U.S. Department of Commerce will continue to conduct its investigations on imports of these products, with its preliminary countervailing duty determination due on or about May 9, 2016, and its preliminary antidumping duty determination due on or about July 21, 2016.
"This affirmative decision is an important first step in remedying the devastating injury that the flood of unfairly-traded imports of stainless steel sheet and strip from China have had on the domestic industry," commented Kathleen Cannon, of Kelley Drye & Warren LLP, counsel to the petitioners.
Imports of stainless steel sheet and strip from China increased by 133 percent between 2013 and 2015. China was the largest supplier of stainless sheet and strip to the U.S. market in 2015, accounting for almost half of all imports. The domestic industry stated that the import surge from China was driven by low import pricing that caused U.S. producers to lose significant sales and profits.
Stainless steel sheet and strip is a flat-rolled alloy steel containing, by weight, 1.2 percent or less of carbon and 10.5 percent or more of chromium, with or without other elements. Stainless steel sheet and strip is used in consumer and industrial applications where the corrosion resistance, heat resistance, or design characteristics of stainless steel are required.
The petitioners are represented in these actions by Kathleen W. Cannon, David A. Hartquist, John M. Herrmann and Grace W. Kim of the law firm Kelley Drye & Warren LLP.
Source : prnewswire.com