Trump administration to launch anti-dumping probe against steel flanges on India and China
The Dollar Business Bureau The US Ministry of Commerce has said it is likely to launch anti-dumping and countervailing duty probe of steel flanges being dumped by India and China into its markets. The Commerce ministry has been petitioned by the Coalition of American Flange Producers and members in its group like Core Pipe Products Inc of Illinois and Maas Flange Corporation of Texas, to consider their petitions filed on August 16 and begin the investigation. The domestic producers allege that the estimated dumping margins ranged between 99.23% to 257.11% for China and 78.49% to 145.25% for Indian steel products and also estimated that products from both the sides were subsidized at undetermined rates. Reiterating his government’s support to defend American businesses and ...
Tata to finalise bidders for its UK business
The Dollar Business Bureau Tata Steel stated that it has not yet shortlisted any bidder—it has received seven bidders who have shown interest in taking over its loss-making UK business. The company also specified that it has not fixed any time period, as to when it expects to sell the assets. There was high expectation that the Tata board would formally announce a sale agreement of its bleeding business operations in the UK; specifically, after Sajid Javid, Secretary of State for Business, UK, came to the city on Wednesday, which was his second visit this month, and held discussions with Cyrus Mistry, Chairman of Tata Group. Koushik Chatterjee, CFO, Tata Steel Group, said that the timeline for bidding was the day before yesterday ...
India challenges WTO ruling over US countervailing duties on steel
The Dollar Business Bureau | @TheDollarBiz Growing steel imports by US threaten the steel sector that supports over half a million jobs in US India has challenged the recent World Trade Organisation (WTO) ruling on countervailing duties (CVD) by USA on certain steel imports from Indian companies which were imposed due to alleged government support to the steel industry in India. India had first appealed against imposition of CVD by USA on hot rolled carbon steel flat products from India in 2012. After two years, in its July 2014 ruling, the WTO accepted a small number of claims by India, but dismissed the remaining claims. According to the Indian Commerce Ministry, the WTO Panel accepted that combining non-subsidized imports with subsidized ...
