Mid Continent Steel & Wire, Inc. Commends Commerce Department for Affirmative Final Determinations in Korea, Malaysia, Oman, Taiwan and Vietnam Antidumping and Countervailing Duty Investigations

“We are very pleased with these final decisions,” said Fernando Villanueva, President and CEO of Mid Continent Steel & Wire.  “The duties that will be imposed as the result of these decisions will bring badly-needed discipline to the market and encourage foreign producers and exporters in these countries, and importers and distributors in the United States, to sell these products at fair prices, especially given the potential for increased duties in the future if they do not.”

The U.S. International Trade Commission (ITC) held a public hearing in these cases in Washington, D.C. on May 14, 2015.  The ITC’s final vote in these investigations is scheduled to be held on June 17, 2015.  If the ITC confirms its preliminary determination that imports from these countries have injured the U.S. industry, U.S. Customs and Border Protection will require U.S. importers of subject nails from these countries to make cash deposits to cover their estimated duty liability.  The amounts required will be based on the margins above.  The final amount of duties owed, however, will not be determined until future administrative reviews are completed.  This process may result in increased duties.

The current cases were filed just two years after Commerce imposed antidumping duties on imports of steel nails from the United Arab Emirates, and six years after antidumping duties were imposed on imports of steel nails from China.  Both antidumping orders remain in place, and in January 2014, Commerce renewed the China order for at least another five years.

The investigations cover certain steel nails up to 12 inches long that are produced from any type of steel.  The steel nails covered by the investigations can have any type of finish, head, shank, point and diameter, and may be sold as loose nails or collated in any manner using any type of material.

Mid Continent Steel & Wire, founded in 1987, has over 400 employees in several locations throughout the United States.  Mid Continent offers a full range of collated and bulk steel nails for construction and industrial applications.