Steel Mills
Steel Mills ask DOC to Revoke Suspension Agreement on Russian CTL Steel Plate
Written by Sandy Williams
May 6, 2015
Nucor, SSAB, and ArcelorMittal USA have petitioned the Department of Commerce to overturn a suspension trade deal that excuses Russian producers of cut-to-length (CTL) steel plate from paying import duties.
The three steel mills said increasing exports of low-priced CTL steel plate to the U.S. is injuring the domestic industry.
A suspension agreement signed in 1997 and amended in 2003 defers anti-dumping duties on steel plate products from Russia.
“The suspension agreement and its normal value pricing mechanism have failed to function as originally intended, and instead have facilitated Russian producers’ exports of large and increasing volumes of low-priced CTL plate to the U.S. market,” the companies said in the submission to the DOC.
If the suspension agreement is revoked, Severstal will be assessed antidumping duties of 53.8 percent and other Russian producers duties of 185.00 percent, according to information reported by Reuters.
Last week an action was brought against Chinese producers of CTL steel plate by Nucor and SSAB. The Chinese producers are accused of adding alloy to carbon steel products to circumvent import duties on CTL steel plate.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Cliffs idles Steelton, Riverdale, and Conshohocken operations
Cliffs has idled facilities in Riverdale, Ill., and Conshohocken and Steelton, Pa.
Radius loss narrows, volumes climb in ‘healthy’ West Coast market
Stronger steel demand in the Western US, rising scrap flows, and improved rolling mill utilization drove sequential gains for Portland, Ore.-based Radius Recycling.
AISI: Raw steel production backs off multi-year high
US raw steel output edged lower last week after hitting a multi-year high in mid-June, according to the American Iron and Steel Institute (AISI).
Private equity firm Atlas Holdings to acquire Evraz North America
Atlas Holdings said it has signed a definitive agreement to acquire Evraz North America (Evraz NA). The Greenwich, Conn.-based private equity firm said it expects the deal for the Chicago-based steelmaker to close in the second quarter of 2025 subject to various closing condition.
Granite City Works must remain open and other terms of the Nippon-USS deal
SEC documents also name Trump specifically as having veto power certain decisions are part of the “Golden Share” provision.