CSN blames Brazilian government for US DOC countervailing duty

Monday, 08 February 2016 22:33:36 (GMT+3)   |   Sao Paulo
       

A source, linked to the negotiations between the Brazilian steel producer CSN and the US Department of Commerce (DOC), told SteelOrbis that the recent imposition by US DOC of a countervailing duty on US imports of HRC from Brazil derives from a mistake by the Brazilian government.

According to the source, a foreign trade linked government agency has failed to send in due time the information requested by the US DOC to evaluate the subject.

Although Brazilian steel producers as a whole were not severely affected by the US DOC decision, CSN was particularly affected because its products were used in its US plant, CSN LLC of Terre Haute, Indiana.

It is not clear if CSN is trying to overthrow the US DOC decision.

In 2015, CSN exported 313,100 mt of HRC to the US at $439/mt in average, FOB conditions.
CSN’s last export of HRC to the US in December was priced at $322/mt, FOB conditions, against the average of $300/mt by its Brazilian peers Usiminas, ArcelorMittal and Gerdau.

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