US ITA sets preliminary subsidy rates on Chinese wire rod imports
Wire Rod | 2014-07-02 03:02:32
The International Trade Administration (ITA) under the US Commerce Department has imposed preliminary subsidy rates on imports of carbon steel wire rod
By Paul Ploumis
SEATTLE (Scrap Monster): The International Trade Administration (ITA) under the US Commerce Department has imposed preliminary subsidy rates on imports of carbon steel wire rod from China. The subsidy rate ranges from 10.3% to 81.36% and goes into effect July 1st onwards.
According to reports, Hebei Iron & Steel Co Ltd. alone received a preliminary subsidy rate of 81.36%. Benxi Beiying Iron & Steel Group Co. Ltd. and its 13 affiliates have received a preliminary subsidy rate of 10.3%. The subsidy rate of 10.3% is imposed on all other Chinese wire rod producers.
The country’s imports of hot-rolled carbon steel and alloy steel rod from China had totaled $313 million during the entire year 2013. The imposition of preliminary subsidies is base on the complaint filed by domestic majors including ArcelorMittal USA, Charter Steel, Evraz Pueblo, Gerdau Ameristeel, Keystone Consolidated Industries and Nucor Corporation.
The US Commerce Department is expected to announce a final decision on the matter on Nov 12th.