Scaw Metals dismisses US claims about steel dumping
Scaw confirms it has not exported wire rod to the US ‘for many years’ as US finds ‘critical circumstances’ exist with respect to ‘producers and exporters in SA’
South African steel producer Scaw Metals has dismissed an "affirmative preliminary determination" by the US department of commerce that states the company was involved in dumping carbon and alloy steel wire rod in America, along with firms from Italy, South Korea, Spain, Turkey, Ukraine, and the UK.Dumping occurs when a foreign company sells an imported product at less than fair value.In the South African investigation, the US government assigned a preliminary dumping rate of 142.26% on ArcelorMittal SA, Scaw Metals Group and Consolidated Wire Industries (CWI), based on "adverse facts" due to their stated failure to respond to the department’s request for information.All other producers and exporters in SA have been assigned a preliminary dumping rate of 135.46%. South African companies were among the highest rates mentioned.ArcelorMittal and Scaw, the latter majority owned by the state-mandated Industrial Development Corporation, jointly own CWI Holdings. CWI is a major producer of...
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