Xiangtan Steel responds to US' AD review

Xiangtan Steel responds to US’ AD review

SteelOrbis Shanghai On Wednesday, December 7, the US Department of Commerce (DOC) officially decided to initiate an investigation for wire rod imported from Chinese steelmaker Xiangtan Iron and Steel Company, an affiliate of VALIN Iron and Steel Group. China's total sales revenue from wire rod export to the US in 2004 was USD 309.4 million, among which $125.34 million was made by Xiantan Iron and Steel Company, accounting for 40 percent and also ranking first in domestic Chinese markets. China exported 2.43 million metric tons of wire rod in the first nine months of this year, up 57.73 percent year on year. In the total amount, about 502,000 metric tons were exported to the United States, amounting to 20.66 percent. If US's plan to levy 321.76 percent AD duty on Chinese wire rod finalized, then China will lose the American market. Sources report that currently, Xiangtan Steel fills in the questionnaires to respond to the AD files.