FOR IMMEDIATE RELEASE
Mid Continent Steel & Wire, Inc. Commends Commerce Department
for Preliminary Affirmative Determinations in Korea, Malaysia, Oman
and Vietnam Antidumping Duty Investigations
December 18, 2014
Adam H. Gordon, Esq.
Picard, Kentz & Rowe, LLP
Washington, D.C. – Mid Continent Steel & Wire, Inc., the largest U.S. producer of steel nails, today commended the U.S. Department of Commerce for its preliminary affirmative determinations in the antidumping duty investigations of unfairly-priced imports of certain steel nails from Korea, Malaysia, Oman and Vietnam.
Commerce today announced preliminary duties on imports of certain steel nails from these countries in the following amounts:
KoreaRespondentMargin Daejin Steel Company 12.38% Jinheung Steel Corporation, Jinsco International Corporation, and Duo-Fast Korea Co., Ltd. 2.13% All Others 7.26%
MalaysiaRespondentMargin Inmax Sdn. Bhd. 2.14% Region International Co. Ltd./Region Systems 2.56% Tag Fasteners Sdn. Bhd. 39.35% All Others 2.20%
OmanRespondentMargin Oman Fasteners LLC 9.07% All Others 9.07%
VietnamRespondentMargin Region Industries Co., Ltd. 103.88% United Nail Products Co., Ltd. 93.42% Kosteel Vina Limited Company 98.65% All Others 323.99% Commerce also announced its preliminary determination in the Taiwan investigation, finding that neither Taiwanese producer was selling at less than fair value. This preliminary result, however, is subject to change based on continued and ongoing investigation and analysis of the companies’ data and Commerce’s preliminary calculations. If errors in its preliminary calculations are found, Commerce may be required to revised and reissue the Taiwan preliminary determination.
“We greatly appreciate the Commerce Department’s dedicated efforts to investigate dumped imports from these countries,” said David Libla, co-President and CEO of Mid Continent Steel & Wire. “As this third set of cases in seven years should show, Mid Continent is committed to defending itself and our industry against the persistent dumping that has driven many U.S. producers out of business over the past decade. The margins announced today will bring badly-needed discipline to the market and encourage foreign producers and exporters in these countries to sell their products at fair prices, especially given the potential for increased duties in the future if they do not.”
As a result of the affirmative determination in these investigations, U.S. Customs and Border Protection will require U.S. importers of subject nails from these countries to pay cash deposits or post bonds to cover their estimated duty liability. The final amount of duties owed, however, will not be determined until future administrative reviews are completed.
The preliminary determinations in the Korea, Malaysia, Oman, Taiwan and Vietnam AD cases are a result of countervailing and antidumping duty petitions that Mid Continent filed on May 29, 2014. In July 2014, the U.S. International Trade Commission issued its preliminary determination addressing the effect of imports from all five countries, unanimously finding that there is a reasonable indication that they are a cause of material injury to the U.S. industry. Final determinations of injury, dumping and unfair subsidies should occur in mid-2015.
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 whether they are sold in bulk 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.