US ITC terminates AD investigation on carbon steel WR from three countries
In a stunning development, the US International Trade Commission (ITC) made a negative preliminary determination in the antidumping investigation of carbon and certain alloy steel
wire rod from
China,
Germany and
Turkey. By an unanimous vote the commissioners determined that there was "no reasonable indication" that rod imports of these countries are causing or threaten to cause "material injury" to the domestic rod industry. Consequently, this particular investigation has been terminated.
For many observers the ruling has come as a surprise at this particular stage. Even though representatives of the
wire industry had presented a very convincing case during the public hearing December 3 in Washington, the majority of ITC commissioners almost always vote for injury at the preliminary stage. But the petitioners must have had a weak case indeed because the unanimous vote is another surprise.
Many
wire rod importers have made arrangements to cover their needs without
Turkey,
China and
Germany in the picture. Obviously, this scenario will change again. The consequences of this ruling and market reaction will transpire more clearly after the holidays.