COMPANY COMMENT: US exposes local steel producer to scrutiny
SA is not the only country being targeted by the US steel industry
ArcelorMittal SA might have hoped that the recent weakness in the rand would have brought it some relief in terms of the volume of steel coming into the country and its own exports, but it’s not to be. Or at least it won’t be if the US is successful with its claims that SA is dumping steel products in the US market. The import duties that the US steel industry is looking for would certainly smother any benefits that might flow from a weaker rand. SA is not the only country being targeted by the US steel industry. It is merely one of 10. Among the others are Belarus, Italy, Russia, Spain and Turkey. If you’re wondering why China is not on the list, it is because China has already been investigated and slapped with antidumping duty orders. As have Indonesia, Mexico and Brazil. The new petition, which was filed on Tuesday, means that all global steel producers have been targeted by US authorities for alleged dumping. The petition alleges that South African producers — read ArcelorMitta...
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