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March 21, 2018

Commerce determination upholds prior AD/countervailing findings for wire rod

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The U.S. Department of Commerce announced affirmative final determinations in the antidumping duty (AD) and countervailing duty (CVD) investigations of imports of carbon and alloy steel wire rod from Italy and Turkey and AD investigations of carbon and alloy steel wire rod from Korea, Spain, and the U.K.

The Commerce Department determined that exporters from Italy, Korea, Spain, Turkey, and the U.K. are dumping carbon and alloy steel wire rod in the U.S. at 12.41-18.89%, 41.10%, 11.08-32.64%, 4.74-7.94%, and 147.63% less than fair value, respectively. Commerce also determined that Italy and Turkey are providing countervailable subsidies to its producers of carbon and alloy steel wire rod at rates ranging from 4.16-44.18% and 3.81-3.86%, respectively.

In 2016, imports of carbon and alloy steel wire rod from Italy, Korea, Spain, Turkey, and the United Kingdom were valued at an estimated $12.2 million, $45.6 million, $40.7 million, $41.4 million, and $20.5 million, respectively.
Commerce also cited rates for individual companies in its findings, as follows.

In Italy, Ferriere Nord was assigned a dumping margin of 12.41% and a subsidy rate of 4.16% and Ferriera Valsider a dumping margin of 18.89% and a subsidy rate of 44.18%. All others were assigned a dumping margin of 12.41 percent and a subsidy rate of 4.16%.
South Korea’s POSCO  was assigned a dumping margin of 41.10%.

In Spain, Global Steel Wire, CELSA Atlantic and Compania Espanola de Laminacion were assigned dumping margins of 11.08%; ArcelorMittal Espana, a unit of ArcelorMittal, a margin of 32.64%; and all others, 11.08%.

In Turkey, Habas Sinai ve Tibbi Gazlar Istihsal Endustrisi received a dumping margin of 4.74%, Icdas Celik Enerji Tersane ve Ulasim Sanayi a margin of 7.94%, and all others, margins of 6.34%. Habas Sinai Ve Tibbi Gazlar Istih got a subsidy rate of 3.86%, Icdas Celik Eberji Tersane Ve Ulasim San a rate of 3.81%, and all others, a rate of 3.84%.

British Steel Ltd and Longs Steel UK Ltd were given dumping margins of 147.63%, as were all other U.K. exporters.

The petitioners in the case were Gerdau Ameristeel US, Inc., Nucor Corporation, Keystone Consolidated Industries and Charter Steel.

If the U.S. International Trade Commission (ITC) makes affirmative final injury determinations by or about the scheduled date of May 3, Commerce will issue AD and CVD orders. If the ITC makes negative final determinations of injury, the investigations will be terminated and no orders will be issued.

From January 20, 2017, through March 20, 2018, the Commerce Department has initiated 102 antidumping and countervailing duty investigations – a 96% increase from the prior year.

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