China hits US, Russian specialty steel imports
Dec 10, 2009 | 11:49 AM
| Maria Guzzo
Potentially adding fuel to the trade war between Washington and Beijing, China has slapped preliminary dumping margins of up to 25 percent on imports of grain-oriented electrical steels from the United States and Russia.
The move, which could affect domestic steelmakers Allegheny Technologies Inc. (ATI) and AK Steel Corp., drew muted reactions from analysts, who see the move as merely a political ploy.
China's Ministry of Commerce, which claims imports from the two countries have caused substantial damage to its industry, issued preliminary dumping margins of 19.9 percent and 10.7 percent, respectively, against Pittsburgh-based ATI and against AK Steel, West Chester, Ohio. All other U.S. producers face margins of 25 percent.
China also imposed provisional countervailing duty deposit rates of 12 percent and 11.7 percent, respectively, for product shipped by two U.S. producers to the Asian country for use primarily in constructing transformers for the power industry. The Chinese government also found that U.S. products were subsidized, although subsidy margins weren't imposed against either ATI or AK Steel.....
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