On 20 Mar’18, U.S. Department of Commerce announced the affirmative final determinations in the antidumping duty (AD) and countervailing duty (CVD) investigations on 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 United Kingdom.
The Commerce Department determined that exports from the above-mentioned countries are being sold at less than the fair value. According to the investigation Italy, Korea, Spain, Turkey, and the United Kingdom 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.
In 2016, imports of carbon and alloy steel wire rod from Italy, Korea, Spain, Turkey, and the U.K. were estimated around USD 12.2 million, USD 45.6 million, USD 40.7 million, USD 41.4 million, and USD 20.5 million, respectively.
The petitioners for the imposition of AD and CVD were Gerdau Ameristeel US Inc. (FL), Nucor Corporation (NC), Keystone Consolidated Industries (TX), and Charter Steel (WI).
The AD and CVD laws provide U.S. businesses and workers with an internationally accepted mechanism to seek relief from the harmful effects of unfairly priced and unfairly subsidized imports into the United States.
If the U.S. International Trade Commission (ITC) makes affirmative final injury determinations, 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.
Foreign companies that price their products in the U.S. market below the cost of production or below prices in their home markets are subject to AD duties. Foreign companies that receive financial assistance from foreign governments that benefits the production of goods from foreign companies are subject to CVD duties.
Country-wise AD and CVD Duty Imposed
| Country | Exporter/Producer | Dumping Margin |
|
Italy |
Ferriere Nord S.p.A | 12.41% |
| Ferreria Valsider S.p.A | 18.89% | |
| All Others | 12.41% | |
| South Korea | POSCO | 41.10% |
| All Others | 41.10% | |
|
Spain |
Global Steel Wire S.A. / CELSA Atlantic S.A./ Compania Espanola De Laminacion |
11.08% |
| Arcelor Mittal Espana S.A. | 32.64% | |
| All Others | 11.08% | |
|
Turkey |
Habas Sinai ve Tibbi Gazlar Istihsal Endustrisi A.S |
4.74% |
| Icdas Celik Enerji Tersane ve Ulasim Sanayi A.S. | 7.94% | |
| All others | 6.34% | |
|
United Kingdom (UK) |
British Steel Limited | 147.63% |
| Longs Steel UK Limited | 147.63% | |
| All Others | 147.63% |
Source: U.S. Department of Commerce
The sequence of events in AD and CVD Case
| Event | CVD | AD |
| Petitions filed | 28 March 2017 | 28 March 2017 |
| DOC Investigation initiation | 17 April 2017 | 17 April 2017 |
| ITC Preliminary determinations | 12 May 2017 | 12 May 2017 |
| DOC Preliminary determinations | 25 August 2017 | 24 October 2017 |
| DOC Final determination | 19 March 2018 | 19 March 2018 |
| ITC Final determination | 3 May 2018 | 3 May 2018 |
| Issuance of orders | 10 May 2018 | 10 May 2018 |
Source: U.S. Department of Commerce
DOC: Department of Commerce
ITC: International Trade Commission
Import Statistics of Countries on which AD and CVD has been Imposed
| Country | 2014 | 2015 | 2016 |
| Italy | 314 | 223 | 30,085 |
| South Korea | 98,907 | 116,901 | 92,504 |
| Spain | 28,829 | 72,553 | 71,364 |
| Turkey | 190,596 | 235,127 | 89,355 |
| U.K. | 64,754 | 41,283 | 46,830 |
Source: U.S. Customs data
Quantity in MT
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