AK Steel Comments On Department Of Commerce Report On Anti-Dumping, Hints More Needs To Be Done

The US Department of Commerce issued a preliminary determination on Tuesday that imports of corrosion-resistant steel ("CORE") from China are being sold at a price that is considered to be less than the market price. Bloomberg reported that CORE imports from China will be taxed at 256 percent, but imports from India, South Korea and Italy will be taxed at much lower rates – as much as just 6.64 percent. AK Steel Holding Corporation AKS publicly responded to the report. The company's CEO James Wainscott said in a letter that the company is "pleased" with the preliminary dumping margins assigned to China. However, Wainscott added that he is "disappointed" that the dumping margins for India, Italy, South Korea, and Taiwan were not higher "as they do not appear to adequately address the dumping that we believe is occurring gin the US market."