Sixth Company Files Petition Against Imported Hot Rolled Steel
The number of domestic producers of steel fighting unfair prices on imports just grew by one more. AK Steel is the latest company to file a complaint against hot-rolled steel being imported from countries like Australia, Turkey, South Korea, Brazil, Japan, the Netherlands, and the United Kingdom. The company filed anti-dumping and countervailing duties against the imported products with the U.S. Department of Commerce and the U.S. International Trade Commission on August 11.
The fiver other domestic steel makers involved in the dispute include: ArcelorMittal USA LLC, SSAB Enterprises, U.S Steel Corp., Nucor Corporation and Steel Dynamics, Inc. The case is based on the companies’ claims that imported hot rolled steel is being sold at a value that is less than fair, which is saturating the products’ markets. The corporations are seeing and feeling a significant impact due to the much lower prices.
The CEO of AK Steel, James Westcott, said to the Dayton Business Journal “Imports have been flooding our shores, substantially reducing selling prices, shipment volumes, and earnings.”
Hot rolled steel is a common product produced by steelmakers. It has various applications including car parts, appliances, machine parts, and transportation equipment – just to name a few.