Iscor accused of 'dumping' writes Leonard Neill
ISCOR HAS come under fire from the US International Trade Commission (ITC) which has accused the steel and mining group of dumping cheap steel in the United States. As a result the South African company now faces additional duty on steel exports to the US.
The ITC has claimed that the US steel industry has been materially injured by hot-rolled steel products imported from both South Africa and Argentina. A new anti-dumping regulation has been introduced following an investigation carried out during the past nine months into the steel export practices of 11 nations. The investigation followed a protest lodged by a number of larger US steel-makers as well as that country's steel workers' union.
Argentina comes off worse than South Africa with a 44,5% anti-dumping duty now being implemented on imports. This figure is based on the difference between the price of its steel in the US and at home.
A 9,3% anti-dumping duty has been ordered on steel imports from South Africa. The orders go into effect at the end of this month, and will not be subject to amendment review for at least 12 months.
