WASHINGTON The U.S. Commerce Department has found that several companies violated anti-dumping law over cold rolled steel flat products, issuing preliminary findings in its probe of seven countries accused of distorting the market with artificially low prices.
The department's International Trade Administration, in a fact sheet released on Tuesday, said a half-dozen U.S. steel companies had requested the investigation into certain steel products from Brazil, China, India, Japan, Korea, Russia, and the United Kingdom.
In its findings, the department said several foreign steel companies did not respond to its requests for information.
Still, it issued preliminary dumping margins in the case, with the following margins applicable to most exporters from the listed countries:
*Brazil: 38.93 percent
*China: 265.79 percent
*India: 6.78 percent
*Japan: 71.35 percent
*Korea: 4.53 percent
*Russia: 14.76 percent
*UK: 28.03 percent
The U.S.-based companies that called for the investigation included AK Steel Corp, Nucor Corp, Steel Dynamics Inc, United States Steel Corp, and ArcelorMittal USA LLC, a unit of ArcelorMittal SA, according the statement.
Following its findings, the Commerce Department said it would call on the U.S. Customs and Border Protection agency "to require cash deposits based on these preliminary rates."
Additionally, the department said it found "critical circumstances" regarding certain exporters from China, Japan, and Russia and that border agents will impose retroactive measures, but gave no other details.
(Reporting by Washington newsroom; Editing by Andrea Ricci)
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Updated Date: Mar 02, 2016 23:15 PM