Japanese Steel Industry Praises ITC for Revoking Duties On Corrosion-Resistant Steel From Japan
Posted on: Thursday, 14 December 2006, 12:00 CST
NEW YORK, Dec. 14 /PRNewswire/ -- Japanese steelmakers welcomed the U.S. International Trade Commission's decision to eliminate anti-dumping duties on corrosion-resistant steel sheet from Japan.
Hidenori Tazawa, Chairman, Japan Steel Information Center, here, said that "the small volume of Japanese corrosion-resistant steel entering the U.S. market did not harm U.S. steelmakers. Instead, these imports were critical to sustaining a healthy U.S. manufacturing base, particularly in the automotive sector. The ITC made the right decision."
In rejecting the continuation of these duties, "the ITC acknowledged this situation and the fact that a small volume of highly specialized Japanese imports could not harm the U.S. steel industry," he added.
These duties have been in effect since 1993 and were removed as a result of a mandatory "sunset review" that must occur every five years.
Mr. Tazawa explained that most Japanese steel imports are high value-added products in specifications unavailable from U.S. steelmakers in adequate volumes. He added that the market for corrosion-resistant steel "was extremely tight in 2006 with many purchasers informing the ITC that domestic producers limited or refused supply. The ITC apparently realized that if the domestic industry isn't willing to supply the product, how can very little tonnage from Japan cause harm. Japanese imports of this particular product were down 20 percent last year from already low levels."
In the past, Japanese steelmakers had been frustrated with results of these sunset reviews when very similar facts were considered. "This latest decision is a step in the right direction," Mr. Tazawa said.
Japan Steel Information Center
CONTACT: Charles Butler of Charles E. Butler & Associates,+1-212-687-2481, or Fax: +1-212-687-3357, cba_pr@verizon.net
Web site: http://www.jsic.org/
Source: PRNewswire
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