The Colombian ministry of Commerce, Industry and Tourism (MINCIT) has extended for three more months existing provisional antidumping (AD) duties over the Chinese imports of U and L-shaped sections.
The provisional AD duty was imposed on November 17, following a request from local producers Diaco, also known as Gerdau Diaco, and Ternium Siderurgica de Caldas. Gerdau sold in June last year a 50 percent stake in Diaco to Putney Capital Management for $165 million. Diaco is now a 50/50 joint venture between Gerdau and Putney Capital Management.
The duty is the corresponding value of the difference between the FOB base price of $473.28/mt and the FOB price declared by the importer, as long as the latter is smaller than the base price.
The products subject to the three-month AD extension fall under the Colombian HTS codes 7216.10.00.00, 7216.21.00.00 and 7228.70.00.00.