Washington(Reuters) - The U.s. International Trade Commissionsaid on Tuesday that carbon and alloy Steelwire rod imports from five countries were hurting U.S. producers, locking in duties of up to 147.63 percent on the products for five years.
The ITC's final finding affects imports of carbon and certain alloy Steelwire rod from Italy, South Korea, Spain, Turkeyand Britain that the U.s. Commerce Departmentsaid in March were being dumped in the U.S. market. At that time, it had announced duties pending a final ITC decision.
Wire rod is a hot-rolled intermediate Steelproduct used in a variety of goods.
The action was spurred by petitions last year from Gerdau Ameristeel Us Incof Florida, a unit of Metalurgica Gerdau SA, Nucor Corpof North Carolina, Keystone Consolidated Industriesof Texasand Charter Steelof Wisconsin
In 2016, imports of wire rod from Italy, South Korea, Spain, Turkeyand Britain were estimated at $12.2 million, $45.6 million, $40.7 million, $41.4 million and $20.5 million, respectively.
The companies that will be affected by the decision include Ferriere Nord of Italy, Poscoof South Korea, and Spain's Global SteelWire, CESLA Atlantic, Compania Espanola de Laminacion, and ArcelormittalEspana, a unit of Arcelormittal
British SteelLtd and Longs SteelUK Ltd will also be impacted, as will Turkey's Habas Sinai Ve Tibbi Gazlar Istihsal Endustrisiand Icdas Celik Enerji Tersaneve Ulasim Sanayi
(Reporting by David Alexander; Editing by Susan Heaveyand Dan Grebler)
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