The U.S. Department of Commerce (DOC) has announced the final results of the review of anti-dumping and countervailing duties on certain types of hot-rolled flat carbon steel products from China, India, Indonesia, Taiwan, Thailand and Ukraine. This is stated in the relevant reports of the department.
The DOC found that the abolition of anti-dumping duties on hot-rolled steel from these six countries is likely to lead to continued or renewed dumping.
The agency determined that the weighted average dumping margin would be 44.40% for India, 47.86% – for Indonesia, 90.83% – for China, 29.14% – for Taiwan, 20.30% – for Thailand and 90.33% – for Ukraine.
In addition, the US Department of Commerce has determined that the elimination of countervailing duties on certain products from Thailand, India and Indonesia will likely result in continued or recurring subsidies. The final rates of countervailing duties are 2.38% for Thailand and 10.21% for Indonesia.
As for Indian companies, the countervailing duty rates are 336.62% for Essar Steel Limited, 360.23% for Ispat Industries Limited, 346.61% for Steel Authority of India Limited, 337.51% for Tata Iron and Steel Company Limited, and 344.44% for all other Indian exporters.
As GMK Center reported earlier, in August 2024, US steelmakers reduced imports of rolled steel by 9.4% compared to July this year, to 1.83 million tons, according to the American Iron and Steel Institute (AISI). Total steel imports (rolled products and semi-finished products) decreased by 2.2% over the month compared to July to 2.37 million tons.
Courtesy: https://gmk.center/
