Insteel expects favorable ruling in trade case
Apr 18, 2014 | 01:04 PM
| Thorsten Schier
NEW YORK Insteel Industries Inc. expects a favorable ruling in the pending trade case against Chinese wire rod producers and sees no shortages in the U.S. rod market as a result, the companys top executive said.
"We believe that the trade case will be successful and result in significant duties being imposed on Chinese rod exports, causing them to become uncompetitive and resulting in their exit from the U.S. market," president and chief executive officer H.O. Woltz III said April 17 during an earnings conference call.
The U.S. Commerce Department is expected to give its preliminary anti-dumping decision July 10 (amm.com, March 14), while the International Trade Administration (ITA) recently postponed a preliminary determination in its countervailing investigation until June 30 (amm.com, April 11).....
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