Commercial Metals +3% as U.S. proposes steel rebar dumping margins

• The U.S. Commerce Department announces preliminary dumping margins on steel rebar imports, saying steel rebar from Japan, Taiwan and Turkey is being dumped in the U.S. market.
• The agency assigns preliminary margins of up to 209.46% for Japanese exporters, 29.47% for Taiwanese exporters and up to 7.07% for Turkish producers.
• Commercial Metals (CMC +3.2%) - which petitioned for an investigation along with Gerdau (GGB +4.4%), Nucor (NUE +2.4%) and Steel Dynamics (STLD +3.1%) - is seen as the main beneficiary of the move.