Steel Products
US Will Not Sunset Duties on Wire Rod
Written by Laura Miller
July 20, 2023
Antidumping and countervailing duties on imports of steel wire rod from a handful of countries will remain in place for another five years.
The US International Trade Commission (ITC) made its final decision in an expedited sunset review of the AD duties on wire rod from Belarus, Italy, Russia, South Africa, South Korea, Spain, Turkey, Ukraine, United Arab Emirates, and the UK, and the CVDs on the product from Italy and Turkey.
The ITC determined that revoking the current duties, or allowing them to ‘sunset,” would be likely to cause the continuation or recurrence of injury to the domestic market.
As a result of the ITC’s decision, the existing AD and CVD orders will remain in place for another five years.
In March, the Department of Commerce found that, if the duties were allowed to expire, the dumping margins likely to prevail would be up to 280.02% for Belarus, 18.89% for Italy, 41.10% for Korea, 756.93% for Russia, 142.26% for South Africa, 32.64% for Spain, 4.44% for Turkey, 44.03% for Ukraine, 84.10% for the UAE, and 147.63% for the UK.
Commerce also determined the continuation or recurrence of countervailable subsidies would be at the following rates: 4.16-44.18% for Italy and 3.81-6.09% for Turkey.
Sunset reviews are required by trade law to be conducted every five years to account for changing conditions in the marketplace.

Laura Miller
Read more from Laura MillerLatest in Steel Products

Asian HR remains much cheaper than US, EU product
Domestic hot-rolled (HR) coil prices were flat this week after declining seven of the last nine weeks. Offshore prices have also eroded in recent weeks, though not nearly as significantly as in the US.

Galv buyers less optimistic about short-term market
“It was a little more of a seller's market as contractors seemed to be protecting themselves against a potential run up in prices," one buyer said.

SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]

US, offshore CRC prices continue to fall
US cold-rolled (CR) coil prices were down again this week, slipping six weeks in a row and seeing the sharpest drop-off since last July.

Asian HR remains much cheaper than US, EU product
Domestic hot-rolled (HR) coil prices fell this week, now down seven of the last eight weeks.