U.S. probes beam imports
By Staff -- Purchasing, 9/2/1999
The Commerce Department is investigating charges that 12 foreign steel firms in four nations are selling steel beams, used in buildings and bridges, at unfair prices in the U.S. The foreign steelmakers could face duties of up to 107% if they lose the case targeting a product category that saw an almost five-fold surge in imports last year.Nucor's U.S.-based joint venture, Nucor-Yamato Steel Co., has called for the investigation, along with Northwestern Steel and Wire Co., TXI-Chaparral Steel Co., and the United Steelworkers' union. The group has asked the government to impose duties on imports from Japan, Germany, South Korea, and Spain.
Structural beams make up 5% of total U.S. steel production, and the three U.S. manufacturers produce 90% of structural beams in the U.S.
Imports of the beams increased from 296,220 tons in 1997 to more than 1.6 million last year. Import prices dropped from $433/ton to $276 during first quarter 1999. Domestic tags fell from $415 in mid-1995 to $270 last month.
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