Market Overview

AK Steel Files Trade Cases On Non-Oriented Electrical Steel

AK Steel (NYSE: AKS) said today that is has filed antidumping duty petitions charging that unfairly low-priced imports of non-oriented electrical steel ("NOES") from six countries are causing material injury to the company.

AK Steel also filed countervailing duty petitions alleging that NOES producers in China, Korea and Taiwan have been heavily subsidized by their respective governments.  The petitions were filed with the U. S. Department of Commerce ("Commerce Department") and the U. S. International Trade Commission ("ITC").  The dumping margins alleged against the six countries are as follows:

Country

Dumping Margins Alleged

China

238 to 397 percent

Germany

70 to 87 percent

Japan

88 to 221 percent

Korea

6 to 71 percent

Sweden

62 to 125 percent

Taiwan

51 to 106 percent

Imports from the six targeted countries accounted for 92 percent of U.S. imports of NOES from all countries in 2012.  The petitions allege that these imports have had an adverse impact on AK Steel's NOES operations and on AK Steel's workforce.  Foreign producers in the targeted countries have massive and growing capacity to produce NOES, and they have been dumping their excess capacity into a grossly oversupplied U.S. market.  This has adversely affected U.S. market prices for NOES and has resulted in

See full press release

Posted-In: News

 

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