Commerce finds dumping of steel nail imports

The Commerce Department found that certain steel nail imports from South Korea, Malaysia, Oman and Vietnam have been dumped on the U.S. market.    The Commerce Department on Thursday found that certain steel nail imports from South Korea, Malaysia, Oman and Vietnam have been dumped on the U.S. market, negatively impacting domestic manufacturers.
   However, the department found during the same investigation that similar nails from Taiwan were not dumped on the U.S. market.
   Dumping occurs when a foreign company sells a product in the United States at less than fair value.
   Commerce determined that steel nails from Korea, Malaysia, Oman and Vietnam have been sold in the United States at dumping margins from 2.13 percent to 12.38 percent, 2.14 percent to 39.35 percent, 9.07 percent, and 93.42 percent to 323.99 percent, respectively.
   As a result of its preliminary determinations, Commerce will instruct Customs and Border Protection to require cash deposits based on these preliminary rates involving steel nail imports from the four countries.
   In 2013, steel nail imports from Korea were valued at $57.2 million; from Malaysia, $31 million; from Oman, $48.9 million; and from Vietnam, $34.7 million.
   Commerce is scheduled to make its final determination for this antidumping investigation by May 11. Meanwhile, the U.S. International Trade Commission will make its related final injury determinations by June 23.
   The petitioner for the investigations was Mid Continental Steel & Wire of Poplar Bluff, Mo.