Washington Sees Evidence of Steel Dumping

The United States moved one step closer to imposing duties against stainless steel rod producers in seven countries accused of unfair trade practices. The Commerce Department announced its preliminary findings on the extent to which imports may have been sold in the United States at below-market value. The department found the so-called dumping margin could be as much as one-third below the prevailing U.S. prices. Last July, the U.S. steel industry and the United Steelworkers of America filed a complaint alleging that producers in Italy, Germany, Japan, Korea, Spain, Sweden and Taiwan have sold stainless steel rod in the United States at below-market prices. The Commerce Department’s action does not mean there was wrongdoing, but the U.S. specialty steel industry hailed the move and said it expected to prevail.