U.S. Commerce Department Secretary Wilbur Ross said on Tuesday the department had made a final finding of dumping of steel concrete reinforcing bar (rebar) exports from Japan and Turkey, as well as subsidization by Turkey.

The decision, announced in a statement, could lead to anti-dumping duties being slapped on Japanese exporters ranging from 206.43 percent to 209.46 percent, and on Turkish exporters of 5.39 percent to 8.17 percent. In addition, Turkish exporters face anti-subsidy duties of 16.21 percent.

"The United States can no longer sit back and watch as its essential industries like steel are destroyed by foreign companies unfairly selling their products in the U.S. markets,” Ross said in the statement.

Its investigation followed a petition from the Rebar Trade Action Coalition and members Bayou Steel Group, Byer Steel Group Inc, Commercial Metals Co, Gerdau Ameristeel U.S. Inc, Nucor Corp and Steel Dynamics Inc.

In a March preliminary anti-dumping decision, the department assigned preliminary dumping margins of 209.46 percent for Japanese exporters, including Jonan Steel Corp and Kyoei Steel Ltd, and 5.29 percent to 7.07 percent for Turkish producers.

It also assigned margins ranging from 3.48 percent to 29.47 percent for Taiwanese exporters. Final determinations for Taiwan are expected in July.

For the margins to take final effect, the U.S. International Trade Commission must find the exports cause harm to U.S. producers. It is expected to make its final injury determinations for Japan and Turkey in June, and for Taiwan in August.

In 2016, imports of steel concrete reinforcing bar from Japan were estimated at $96.1 million, and from Turkey at $511.9 million, department figures show.

 

Source:reuters.com

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