China, Japan, UK & Brazil Crushed in Cold Rolled Antidumping Ruling

This evening the U.S. Department of Commerce released their Preliminary Determinations on cold rolled from Brazil, China, India, Japan, Korea, Russia and the United Kingdom. Each country was found to be exporting cold rolled into the United States at less than fair value. However, the degree of the penalties ranged from a low of 2.17 percent (Hyundai in Korea) to as much as 265.79 percent for all Chinese producers.

A large buyer of both domestic and imported steel told SMU this evening after reviewing the ruling, “Big duties for Japan and Brazil will make traders be more cautious looking at replacement from other international origins. Certainly a wide section of the market wasn’t expecting these numbers. It’s a win for the domestic industry.”