China Hit With Heavy Cold-Rolled Steel Duties, Korean and Russian Imports Mostly Unharmed

Dec 17, 2015 10:36 GMT  Source: metalMiner
 Jeff Yoders on DECEMBER 17, 2015

Today, the Commerce Department announced its affirmative preliminary determinations in the countervailing duty investigations of imports of cold-rolled steel flat products from Brazil, China, India, and Russia, and its negative preliminary determination in the CVD investigation of imports of cold-rolled steel flat products from South Korea.

The investigations cover cold-rolled, flat-rolled steel products. It should come as no surprise that the largest subsidies are being assigned to Chinese importers.

Chinese Imports Take a Hit

In the China investigation, Commerce preliminarily determined that mandatory respondents Angang Group Hong Kong Co., Ltd. and Benxi Iron and Steel (Group) Special Steel Co., Ltd. and, a non-cooperative exporter — Commerce’s term for companies that do not respond to requests for information in the investigation — Qian’an Golden Point Trading Co., Ltd., received whopping subsidy rates of 227.29%.

All other exporters of cold-rolled steel flat products from China will be subject to that same subsidy rate of 227.29%. The rates are based on adverse facts available. Commerce determined that the Government of the People’s Republic of China, and the mandatory respondents, did not fully cooperate in the investigation.

Source: Metalminer