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Zerophoto/Adobe Stock

This morning in metals news, China is poised to to impose anti-dumping duties on a number of countries, Nucor says it is happy with the results of the Trump administration’s tariffs and Brazilian miner Vale’s second-quarter output plunged.

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China to Hit Imports of Stainless Steel with Anti-Dumping Duty

China is set to impose an anti-dumping duty on imports of stainless steel from the E.U., Japan, South Korea and Indonesia, Reuters reported.

According to the report, the duties — covering billets and hot-rolled steel plates — will go into effect July 23.

Nucor ‘Pleased’ with Tariffs

Nucor CEO John Ferriola told CNBC the Trump administration’s tariffs on imported steel have worked.

“The anticipated response was domestic capacity coming on line to replace the lower imported steel,” Ferriola said during a CNBC interview last week. “That’s exactly what happened.”

Vale Output Down in Q2

Brazilian miner Vale reported its second-quarter iron ore output fell 33.8% year over year. Production was down 12.1% compared with Q1 2019, according to the miner.

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A January tailings dam collapse at Vale’s Corrego do Feijao mine in Brumadinho sent shock waves through the iron ore market and led to more than 200 deaths.

In addition, heavy rains in March, April and May also impacted operations.

The U.S. Department of Commerce. qingwa/Adobe Stock

The U.S. Department of Commerce announced late last week that it found evidence of dumping and countervailable subsidization of steel racks from China.

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According to the DOC, imports of the steel racks from China were dumped into the U.S. at less than fair value at rates ranging from 18.06% to 144.50%.

The DOC also determined the steel racks benefited from countervailable subsidies ranging from 1.50% to 102.23$%.

According to the Department of Commerce, imports of steel racks from China were valued at $200 million in 2017.

The case is spurred by a petition from the Coalition for Fair Rack Imports filed in June 2018. The coalition’s members are: Bulldog Rack Company (Weirton, West Virginia), Hannibal Industries, Inc. (Los Angeles, California), Husky Rack and Wire (Denver, North Carolina), Ridg-U-Rak, Inc. (North East, Pennsylvania), SpaceRak (Marysville, Michigan), Speedrack Products Group, Ltd. (Sparta, Michigan), Steel King Industries, Inc. (Stevens Point, Wisconsin), Tri-Boro Shelving & Partition Corp. (Farmville, Virginia), and UNARCO Material Handling, Inc. (Springfield, Tennessee).

The U.S. International Trade Commission will make its final determinations in the case by Sept. 3. If the USITC rules in the affirmative, the Department of Commerce will issue anti-dumping and countervailing duty orders.

The DOC applied the 18.06% dumping rate for Nanjing Dongsheng Shelf Manufacturing Co., Ltd., while the China-wide entity was assessed at a 144.50% dumping rate.

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As for countervailing subsidies, the DOC said Nanjing Dongsheng Shelf Manufacturing Co., Ltd. benefited from countervailable subsidies at a rate of 1.50%, while adverse facts available led to a rate of 102.23% for other companies.

From 2016 to 2017, imports of steel racks by tonnage increased 15.7%, up to 371,082 tons in 2017.