U.S. Probe Finds Evidence of Steel Dumping

The Commerce Department said it has found evidence that stainless steel producers in eight countries have been illegally dumping their products in the U.S. market. The finding covers stainless steel sold in flat sheets rolled up like carpet--a product used to make kitchen sinks, dishwashers and other appliances--from France, Germany, Italy, Japan, Mexico, South Korea, Taiwan and Britain. The department issued a preliminary finding that the product has been sold here at up to 59% below cost, meaning the U.S. Customs Service will begin to collect a bond or deposit to make up the difference. The department must issue a final ruling early next year, after which the independent U.S. International Trade Commission must decide whether any dumping has harmed or threatens to harm U.S. industry. The case ruled on was filed by four U.S. steelmakers and labor unions.