The Commerce Department placed initial anti-dumping tariffs on imports of carbon and alloy steel cut-to-length plate (CTL plate) from Brazil, South Africa, and Turkey late Friday.
For the purpose of an anti-dumping investigation, dumping occurs when a foreign company sells a product in the U.S. at less than its fair value.
In the Brazil investigation, Commerce preliminarily found that dumping has occurred by mandatory respondents, Companhia Siderurgica Nacional and Usinas Siderurgicas de Minas Gerais (OTC:USNZY), at a preliminary dumping margin of 74.52%. The dumping margin for the mandatory respondents was based on adverse facts available (AFA) as a result of their failure to cooperate in the investigation. Commerce assigned a preliminary dumping margin of 74.52% for all other producers/exporters in Brazil.
In the South Africa investigation, Commerce preliminarily found that dumping has occurred by the mandatory respondent, Evraz Highveld Steel and American Vanadium Corp (OTC:AVCVF), at a preliminary dumping margin of 94.14%. The dumping margin for the mandatory respondent was based on AFA as a result of its failure to cooperate in the investigation. Commerce calculated a preliminary dumping margin of 87.72% for all other producers/exporters in South Africa.
In the Turkey investigation, Commerce preliminarily found that dumping occurred by the mandatory respondent, Ereğli Demir ve Çelik Fabrikalari T.A.Ş., at a preliminary dumping margin of 50%. The dumping margin for the mandatory respondent was based on AFA as a result of its failure to cooperate in the investigation. Commerce calculated a preliminary dumping margin of 42.02% for all other producers/exporters in Turkey.
As a result of the preliminary affirmative determinations, Commerce will instruct U.S. Customs and Border Protection to collect cash deposits based on these preliminary rates.
Critical circumstances were alleged with respect to imports of CTL plate from Brazil and Turkey. On September 7, Commerce preliminarily found that critical circumstances exist with respect to all exporters from Brazil and Turkey. Consequently, CBP will be instructed to impose provisional measures retroactively on entries of CTL plate from Brazil and Turkey effective 90 days prior to publication of the preliminary determinations in the Federal Register.
The petitioners are ArcelorMittal SA (NYSE:MT), Nucor Corporation (NYSE:NUE) and SSAB Enterprises, LLC. Just last week, Commerce initially placed heavier duties (210%) on imports of cut-to-length plate from China.