ITC ruled on AD duties (anti-dumping) against Turkey and Mexico
Department of Commerce announced the preliminary Anti-Dumping duties on imported steel from Turkey and Mexico. It can be summarized as follows:
Mexico – Simec – 10.66% ($64/Ton if say a $600/ton material cost)
Mexico – Deacero and all others – 20.56% ($123/Ton if say a $600 material cost)
Turkey – Habas – 0%
Turkey – Icdas, Chilok, Kroman, Ekincilar and all others – 2.64% ($16/Ton if say a $600 material cost)
The relatively high duties placed on Mexico will likely raise eyebrows compared to the much more conservative results from Turkey. In total, Mexico accounted for approx 30% of all imports last year while Turkey was about double that at 60%. The impact of these announcements will likely not be felt for a couple weeks as current stocks are still in the pipeline. Mexico will likely have trouble competing in the US market while expect Turkey offerings to increase by at least the $15-$20 duty.
A very important note, Critical Circumstances were found on all producers outside of Simec (Mexico), Habas (Turkey) and Icdas (Turkey). This means on imports from 90 days prior to today’s date are subject to the above duties as collected by the US Customes & Border Protection. This was unexpected by these producers and most likely not accounted for in the sales from the last quarter.
Sales Merchant at Adelphia Metals