USITC Maintains Existing Rights to Carbon Alloy Steel Wire Rod Products – Steel, Aluminum, Copper, Stainless Steel, Rare Earths, Metal Prices, Forecasts

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The United States International Trade Commission (USITC) last week, in a five-year sunset review of imports of carbon and certain alloy steel wire rod, voted to maintain tariffs existing compensators and anti-dumping.

The USITC chose to keep the existing countervailing and anti-dumping duty orders in place, as their removal “would likely lead to the continuation or recurrence of material injury within a reasonably foreseeable period of time.”

Anti-dumping duties on wire rod products applied to imports from Brazil, Indonesia, Mexico, Moldova and Trinidad and Tobago. In addition, the USITC maintained the existing countervailing duty order on imports of wire rod from Brazil.

The five-year CVD sunset review was conducted in accordance with the Uruguay Round Agreements Act. The law provides for the review of countervailing or anti-dumping duties after five years and the removal of duties, unless this results in continued dumping or subsidies from foreign exporters.

Whether or not you are importing wire rod, be sure to follow best practices for sourcing metals.

Drop in wire rod imports in June

The US Census Bureau recently reported that wire rod imports in June were 48,226 metric tons.

June’s total was down from the 63,173 metric tonnes imported in May. Imports for June 2019 totaled 67,593 metric tonnes.

In the first five months of the year, wire rod imports totaled 300,389 metric tons. In contrast, imports of wire rod during the same period in 2019 totaled 443,854 metric tons.

Reuters: US seeks to cut Brazil’s steel export quotas

In other steel news, Reuters recently reported that the US government was pressuring Brazil to reduce its exports of unfinished steel to the United States.

Marco Polo, chairman of the Brazilian steel industry group IABr, said the United States was seeking to reduce Brazil’s steel export quota.

The United States implemented Section 232 tariffs on steel and aluminum in 2018.

Despite this, Brazil was among the countries to avoid tariffs, facing a steel export quota.

The United States set the semi-finished steel quota at 100% of Brazil’s average annual total exports from 2015 to 2017. Meanwhile, the United States set the finished steel quota at 70% of the annual average.

The United States imported 21,067 tonnes of steel from Brazil in June, up from 47,165 tonnes in May.

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