Blog

Oct 24, 2024

Coated steel trade case moves forward with affirmative ITC vote - Steel Market Update

Trade Cases Written by Laura Miller October 18, 2024 Share on LinkedIn On Friday, the US International Trade Commission (ITC) voted to continue the trade case investigation of corrosion-resistant

Trade Cases

Written by Laura Miller

October 18, 2024

Share on LinkedIn

On Friday, the US International Trade Commission (ITC) voted to continue the trade case investigation of corrosion-resistant (CORE) steel imports from 10 trading partners.

The agency will release additional information about the vote in its preliminary determination on Monday, Oct. 21.

This initial injury decision by the ITC allows the probe into the imports to move forward.

Recall that Steel Dynamics Inc. (SDI), Nucor, U.S. Steel, Wheeling-Nippon Steel, and the United Steelworkers (USW) filed extensive trade petitions in early September seeking relief from what they claim are unfairly traded imports.

The petitioners are seeking the imposition of antidumping duties (AD) on CORE imports from Canada, Mexico, Brazil, the Netherlands, Turkey, the United Arab Emirates, Vietnam, Taiwan, Australia, and South Africa. They’ve also requested countervailing duties (CVD) for CORE from Canada, Mexico, Brazil, and Vietnam.

(Note that Nucor is not a part of the petitions seeking duties on CORE from Mexico, while SDI and Nucor are the only ones seeking duties on Canadian CORE.)

The petitions allege average dumping margins ranging from as low as 12.7% for the Netherlands to as high as 195.23% for Vietnam. A table showing the full scope of the asserted dumping margins can be found here.

Commerce will set actual AD margins in its preliminary decision, which will be issued on Feb. 12, 2025.

Subsidy margins won’t be revealed until the Department of Commerce issues its preliminary CVD determination on Nov. 29.

The next big date to watch for is Nov. 29, when Commerce will issue its preliminary CVD determination. Subsidy rates above de minimis (less than 1% for developed countries and less than 2% for developing countries) have been purported, but we won’t know the degree of the CVD margins until that date.

SMU has compiled a full timeline of the investigations, which can be found here.

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at [email protected] or 724-759-7869.

The US Department of Commerce is conducting annual administrative reviews of antidumping and countervailing duty (AD/CVD) orders on certain imports of steel pipe and tube.

The Canadian government announced a remission process for businesses for recently announced tariffs on Chinese steel and aluminum products and electric vehicles .

China’s burgeoning exports are causing major angst all over the world. In the US, the increases are spawning calls for more restrictions on China, some of which might work a bit, but will likely cause more harm than good for the world at large.

The US International Trade Commission (ITC) has decided to conduct full sunset reviews of 23-year-old anti-dumping and countervailing duties (AD/CVD) on hot-rolled (HR) steel imports.