10:55 11.01.2018

Even closest friends must play by the rules – U.S. secretary of commerce on anti-dumping duties on Ukrainian wire rod

Even closest friends must play by the rules – U.S. secretary of commerce on anti-dumping duties on Ukrainian wire rod

U.S. Secretary of Commerce Wilbur Ross has expressed his satisfaction with the final determinations in the anti-dumping duty investigations of imports of carbon and alloy steel wire rod (wire rod) from South Africa and Ukraine, which will allow protecting U.S. producers.

"Today's decision allows U.S. producers of carbon and alloy steel wire rod to receive relief from the market-distorting effects of foreign producers dumping their goods into the domestic market," the department's press service quoted Secretary Ross as saying.

"While the United States values its relationship with South Africa and Ukraine even our closest friends must play by the rules," he added.

As reported, the U.S. Department of Commerce has determined the final anti-dumping duties for the import of carbon and alloy steel wire rod originating from Ukraine at the level of previously calculated preliminary determinations set at 44.03% for ArcelorMittal Kryvyi Rih and Yenakiyeve Iron and Steel Works (EMZ, Metinvest) and at 34.98% for other Ukrainian producers.

The U.S. Department of Commerce said in an announcement on January 9, 2018, that the final duties for South African companies are also determined at the level of the preliminary determinations. In particular, they will be 142.26% for ArcelorMittal South Africa, Scaw South Africa (also known as Scaw Metals Group) and Consolidated Wire Industries (South Africa); while other South African companies will have to pay duties set at 135.46%.

The final duties must be approved by the U.S. International Trade Commission (USITC) no later than February 22, 2018, and a relevant decision on the introduction of the final duties will be made by U.S. Department of Commerce no later than March 1, 2018.

In 2016, exports of carbon and alloy steel wire rod from Ukraine to the United States more than doubled in physical terms compared to 2015, to 146,470 tonnes and grew by 70.9% in monetary terms, to $55.02 million. Shipments from South Africa, on the contrary, more than halved in physical terms, to 20,000 tonnes and decreased by 58.3% in monetary terms, to $7.05 million.

As was reported, the U.S. Department of Commerce on October 25, 2017, issued affirmative preliminary anti-dumping duty determinations on carbon and alloy steel wire rod from Italy, the Republic of Korea, South Africa, Spain, Turkey, Ukraine, and the United Kingdom.

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