NEW YORK AK
Steel Corp. called on the U.S. Commerce Department and the
International Trade Commission to prohibit "unfairly traded
imports" of electrical steel, noting that international
shipments of grain-oriented electrical steel have reached
"historically low levels," the company said in its
third-quarter earnings call Oct. 22.
Ohio-based AK Steel joined Allegheny Technologies Inc. and the
United Steelworkers union in filing a trade petition Sept. 18
against imports of the product from Japan, South Korea, China
and four other countries (
amm.com, Sept. 18).
AK Steel followed the
measure by filing a similar anti-dumping petition Sept. 30
against non-oriented electrical steel imports from six
different countries (
amm.com, Sept. 30). AK Steel is the only domestic
producer of non-oriented electrical steel in the United
this year in the housing market, which according to AK Steel is
"a major driver of demand for electrical steel for use in
transformers," the United States has "become the worlds
dumping ground for electrical steel," president, chairman and
chief executive officer James L. Wainscott said.
uncertainty and "a significant increase in global production of
(grain-oriented electrical steel) products" has "significantly
deteriorated" AK Steels international market for the
product, Wainscott added.
Despite its challenges
in the market, the company "(continues) to see solid
longer-term potential for global, high-efficiency electrical
steels as the demand for energy in the world continues to
grow," he said.
AK Steel posted its
ninth consecutive quarterly loss in the third quarter, citing
an unplanned outage at its Middletown, Ohio, blast furnace and
a seasonal decrease in shipments to the automotive sector (
amm.com, Oct. 22).