Electrical steel producers praise ruling
May 06, 2014 | 04:45 PM
| Rey Mashayekhi
NEW YORK AK Steel Corp. and Allegheny Technologies Inc. (ATI) are "encouraged" by the U.S. Commerce Departments affirmative anti-dumping ruling on grain-oriented electrical steel (GOES) imports from seven countries, though analysts are mixed on the domestic industrys long-term prospects.
In a joint statement, ATI chairman, president and chief executive officer Richard J. Harshman said the departments 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, Commerces 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 Koreas Posco Ltd. to a high of 241.91 percent for Germanys ThyssenKrupp Electrical Steel GmbH (amm.com, May 5).....
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