WASHINGTON – The U.S. Commerce Department launched a probe Tuesday into alleged dumping by several foreign steel producers accused of undercutting America’s domestic industry.
U.S. officials said seven nations were involved in underpricing some $2 billion worth of steel: Australia, Brazil, South Korea, the Netherlands, Britain, Japan and Turkey.
Japanese producers were selling hot-rolled steel flat products into the United States at 16% under the market prices while producers from Turkey discounted their steel by one-third.
South Korea is the largest supplier of cold-rolled flat steel to the United States, exporting $678.8 million worth last year.
The probe was brought on behalf of major U.S. steel producers that have been hit with competition from cheaper imports as the global steel industry endures a supply glut, mainly due to China’s downturn.
The Commerce Department said it would reach a preliminary determination on the probe by Sept. 25, and could set anti-dumping and anti-subsidy duties beginning as early as November.
Copyright Agence France-Presse, 2015
About the Author
Agence France-Presse
Copyright Agence France-Presse, 2002-2025. AFP text, photos, graphics and logos shall not be reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP shall not be held liable for any delays, inaccuracies, errors or omissions in any AFP content, or for any actions taken in consequence.