On the lookout for low-cost ferrous scrap? Check Latvia
Dec 21, 2004 | 09:21 AM
| Paul Schaffer
U.S. reinforcing bar producers believe there's something fishy about steel scrap prices in Latvia, but they haven't succeeded in convincing the U.S. Commerce Department.
The issue arose recently in the jousting over anti-dumping duties on imported rebar.
To determine whether dumping has occurred and to quantify how extreme it might be, the Commerce Department often conducts detailed verification of foreign producers' expenses.In a September ruling that illustrates the process, Commerce found that Mexico's Hylsa SA de CV quoted low iron ore costs that weren't realistic. "The department found that the average per-unit transfer price of iron ore purchased from affiliates was less than the average cost of production of iron ore produced by the affiliates," Commerce said. So the federal agency substituted higher numbers in the cost-of-production arithmetic used to calculate the anti-dumping duty.....
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