U.S. ramps up preliminary duties on Chinese steel wire rod imports

|By:, SA News Editor

The U.S. Department of Commerce has set preliminary duties of up to 110% on imports of carbon and alloy steel wire rods from China following a ruling that found the products being sold below cost in the U.S.

The complaint regarding the imports, which totaled $313M in 2013, was made by several firms including ArcelorMittal (NYSE:MT), Keystone Consolidated (OTC:KYCN) and Nucor (NYSE:NUE).

A final decision by the Department of Commerce is due by Nov. 12. The U.S. International Trade Commission will make its final decision in December.