After months of anticipation, United States Steel, AK Steel, ArcelorMittal USA LLC, Steel Dynamics and Nucor Corporation this week filed petitions with the
US Department of Commerce and the
US International Trade Commission, alleging unfairly traded cold rolled coil (
CRC) imports from Brazil, China, India, Japan, South Korea, Netherlands, Russia and the UK were causing injury to the domestic injury. The petitions were long expected and rumors of the filing had been permeating the market for months.
Sources close to SteelOrbis have confirmed that while domestic offer prices have remained stable, orders and inquiries from all offshore producers named in the petitions have ceased. The alleged margins are just too high, traders said, furthering that “no one is interested in assuming that kind of risk.”