AK Steel Corp., ATI Flat Rolled Products, North American Stainless, and Outokumpu Stainless USA, the four principal U.S. producers of stainless steel sheet and strip, have filed antidumping and countervailing duty petitions charging that unfairly traded imports of stainless steel sheet and strip from the People’s Republic of China are causing material injury to the domestic industry.
The antidumping margins alleged by the domestic industry range from 53.69 to 83.24% ad valorem (according to value). The domestic industry’s countervailing duty petition alleges that the Chinese government has provided significant subsidies to Chinese producers. The petitions were filed concurrently with the United States Department of Commerce and the United States International Trade Commission.
The domestic industry filed its petitions for relief in response to large and increasing volumes of low-priced imports of stainless steel sheet and strip from China over the past three years that have injured U.S. producers. The volume of imports of stainless steel sheet and strip from China has increased by 133% since 2013. Chinese products accounted for 81.2% of the total increase in U.S. stainless steel sheet and strip imports during the past three years.
The petition alleges that Chinese producers have injured the domestic industry by selling their stainless steel sheet and strip at unfairly low prices that significantly undercut domestic market prices. As a result of this unfair competition, the domestic industry has suffered declines in sales, production, employment, prices, and profits.
Commerce Department and U.S. International Trade Commission will now begin their preliminary investigations, which are expected to be finalized during the first quarter. The entire investigative process will take approximately one year, and it is expected to be complete in the first quarter of 2017.
www.outokumpu.com/en/stainless-news/outokumpu-news
