Electrical steel producers praise ruling

May 06, 2014 | 04:45 PM | Rey Mashayekhi

Tags  electrical steel, grain oriented electrical steel, GOES, trade case, U.S. Dept. of Commerce, AK Steel, ATI, Allegheny Technologies Inc. United Steelworkers

NEW YORK — AK Steel Corp. and Allegheny Technologies Inc. (ATI) are "encouraged" by the U.S. Commerce Department’s affirmative anti-dumping ruling on grain-oriented electrical steel (GOES) imports from seven countries, though analysts are mixed on the domestic industry’s long-term prospects.

In a joint statement, ATI chairman, president and chief executive officer Richard J. Harshman said the department’s findings "support our belief that the respondent foreign producers have been violating U.S. trade laws and (World Trade Organization) rules with their commercial practices," while AK Steel chairman, president and chief executive officer James L. Wainscott said the rulings "are an important step in ensuring that our foreign competitors play by the rules of fair trade."

In its decision May 5, Commerce’s International Trade Administration (ITA) issued preliminary dumping margins on GOES imports from China, Japan, Germany, Russia, Poland, the Czech Republic and South Korea, with dumping margins ranging from a low of 5.34 percent for South Korea’s Posco Ltd. to a high of 241.91 percent for Germany’s ThyssenKrupp Electrical Steel GmbH (amm.com, May 5).....





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