ITC’s hot-rolled steel import investigation continues

The U.S. International Trade Commission determined there is a “reasonable indication” domestic producers of hot-rolled steel flat products are harmed by similar imports.    The U.S. International Trade Commission determined Thursday that there is “reasonable indication” that domestic producers of hot-rolled steel flat products are harmed by similar imported products from Australia, Brazil, Japan, Korea, the Netherlands, Turkey, and the United Kingdom which are allegedly sold in the United States at less than fair value and subsidized by the governments of Brazil, Korea, and Turkey. 
   As a result of the commission’s action, the Commerce Department will also continue its investigations into the imports of these products from Australia, Brazil, Japan, Korea, the Netherlands, Turkey, and the United Kingdom, with its preliminary countervailing duty determinations due by Nov. 4 and its preliminary antidumping duty determinations due by Jan. 18, 2016. 
   Petitioners for the ITC and Commerce Department investigations include AK Steel Corp. of West Chester, Ohio; ArcelorMittal USA in Chicago; Nucor Corp. of Charlotte, N.C.; SSAB Enterprises in Lisle, Ill.; Steel Dynamics in Fort Wayne, Ind.; and U.S. Steel Corp, of Pittsburgh. These companies have hot-rolled steel plants spread across Alabama, Arkansas, California, Illinois, Indiana, Iowa, Kentucky, Michigan, Mississippi, Ohio, Oregon, Pennsylvania, and South Carolina.
   Imports of hot-rolled steel flat plate from the investigated countries were estimated at $1.9 billion and $2.3 billion from other countries. The ratio of the value of total U.S. imports of this product to total U.S. consumption in 2014 was 9.6 percent, or 20 percent for the merchant market, according to the ITC.