NEW YORK SeAH Steel Vina Corp., a subsidiary of Vietnam-based SeAH Steel Corp., has asked the Commerce Departments International Trade Administration (ITA) to recalculate preliminary anti-dumping margins levied against the firm, saying that they may effectively end its participation in the U.S. oil country tubular goods (OCTG) market.
"The calculation used in the departments preliminary determinationwhich erroneously included the financial ratios for at least one integrated steel producer ... that produced the steel used in its pipe production from iron orewas inconsistent with the departments established precedent, mathematically absurd, and monstrously unfair," lawyers from Washington-based law firm Jeffrey M. Winton PLLC wrote in the filing.
The inclusion of the integrated producer in the departments calculation skewed SeAH Steel Vinas margins by not accounting for the fact that the company does not produce its own steel, but instead buys finished coil, the lawyers said. "This double-counting has created margins for SeAH Steel Vina that are higher than the margins for any producer that cooperated with the department in any of the current OCTG investigations and therefore may effectively put SeAH Steel Vina out of the U.S. market until the department issues its final determination (on July 7)."
SeAH Steel Vina was assessed a preliminary anti-dumping margin of 9.57-percent, while all other Vietnamese OCTG producers, none of which responded in the investigation, received a 111.47-percent margin (amm.com, Feb. 18).
The lawyers acknowledged that while the error may not fall under the departments typical revision standard of "ministerial," it "has the inherent authority to correct the error it made and issue a revised preliminary determination."