The US Department of Commerce announced today its preliminary determination that imports of stainless steel sheet and strip from China are benefitting from unfair government subsidies.
Based on information gathered to date, the DOC calculated a preliminary subsidy margin of 57.30 percent of the value of the imported stainless steel sheet and strip for Shanxi Taigang Stainless Steel Co., Ltd., the sole Chinese respondent that was analyzed by the agency.
Based on information gathered to date, the DOC calculated a preliminary subsidy margin of 57.30 percent of the value of the imported stainless steel sheet and strip for Shanxi Taigang Stainless Steel Co., Ltd., the sole Chinese respondent that was analyzed by the agency.
The DOC assigned a preliminary subsidy margin of 193.12 percent to shipments by all other producers and exporters in China, including Ningbo Baoxin Stainless Steel Co., Ltd. and Daming International Import Export Co., Ltd., both of which failed to participate in the Commerce Department's investigation after being selected as a mandatory respondents. The DOC investigated numerous subsidy programs based on allegations contained in the domestic industry's petition.
The next step will be the DOC’s issuance of its final countervailing duty determination, which is likely to be completed on or about January 30, 2017. In addition, the DOC is currently scheduled to issue its preliminary antidumping determination on Monday, September 12, 2016.
The DOC’s determination follows the filing, on February 12, 2016, of antidumping and countervailing duty petitions by domestic producers AK Steel Corporation, Allegheny Ludlum, North American Stainless, and Outokumpu Stainless USA, LLC.