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US imposes duties on Chinese steel wire rod

The US Department of Commerce has imposed preliminary duties on imports of carbon and alloy steel wire rod from China after ruling that they are produced with the benefit of “unfair” government subsidies.

The Commerce Department set a rate of 81.36% for Hebei Iron & Steel and 10.30% for Benxi Steel and all other producers and exporters in China. 

Action was taken because of complaints by ArcelorMittal USA, Charter Steel, Evraz Pueblo, Gerdau Ameristeel, Keystone Consolidated Industries and Nucorp. 

Steel wire rod imports to the USA totalled $313 million in 2013.

The Commerce Department will review the situation over the coming months, before making its final decision on 12 November, at the same time as a final decision is made concerning a parallel investigation into the ‘dumping’ of steel wire rod by the Chinese. 

Source – Strategic research Institute


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