US Confirms Duties on Steel from Five Countries Excluding Russia

The US International Trade Commission voted to lock down duties on imports of cold rolled flat products from Brazil, India, South Korea and the UK, noting that imports from Russia are not harmful.

Earlier, the US Department of Commerce found that products from Brazil, India, South Korea and Russia are subsidized and sold in the United States at below fair value. This also applies to products from the UK.

In the case of Brazil, India, South Korea and the United Kingdom, their imports have been said to harm the US industry. The responsibilities proposed by the Department of Commerce range to 58.36 percent. At the same time, Russian imports will not face obligations due to the fact that no damage to the US industry was found.

Following the actions of the Ministry of Commerce in July, Brazil indicated that it would challenge any duties on its products through the World Trade Organization. Brazilian exports are dominated by Cia. SIDERURGICA Nacional (CSNA3.SA) and Usinas Siderurgicas de Minas Gerais SA (USIM5.SA).

Other companies whose exports are affected by the decision include South Korean metallurgists POSCO (005490.KS) and Hyundai Steel Co (004020.KS), Indian manufacturer JSW Steel Ltd (JSTL.NS) and UK subsidiary Tata Steel Ltd (TISC. NS). ...

Cold rolled steel is used in automotive body panels, instrumentation, shipping containers, and construction. US officials launched an investigation following a petition from AK Steel Corp, a subsidiary of AK Steel Holding Co (AKS.N); ArcelorMittal USA LLC, a division of ArcelorMittal SA (ISPA.AS); Nucor Corp (NUE.N); Steel Dynamics Inc (STLD.O); and United States Steel Corp (XN).