Steel Dynamics files petition for duties on corrosion resistant steel imports

Steel dynamics (NASDAQ:STLDBritish Steel said on Thursday it had applied to the U.S. Department of Commerce and the U.S. International Trade Commission to apply anti-dumping duties on imports of corrosion-resistant flat-rolled steel, claiming that increased imports were harming the domestic steel industry.

The company These duties should apply to imports from Australia, Brazil, Canada, Mexico, the Netherlands, South Africa, Taiwan, Turkey, the United Arab Emirates and Vietnam, as well as countervailing duties on imports from Brazil, Canada, Mexico and Vietnam.

Corrosion-resistant flat steel imports from the 10 countries involved rose to nearly 2 million tons in the first half of this year from less than 1.25 million tons a year earlier, weighing on U.S. steel industry volumes, prices and profits, according to the company.

Steel Dynamics (STLD) said it hopes to have preliminary decisions on subsidies later this year and decisions on dumping early next year, with final rulings by the two agencies due by October 2025.