US probes are wor­ry­ing – Seifsa

The Mercury - - BUSINESS REPORT -

THE STEEL and En­gi­neer­ing In­dus­tries Fed­er­a­tion of South­ern Africa (Seifsa) said yes­ter­day it was “ex­tremely con­cerned” that US in­ves­ti­ga­tions into car­bon and al­loy steel wire rod im­ports would ex­ac­er­bate the lo­cal in­dus­try’s woes. The US Depart­ment of Com­merce and the US In­ter­na­tional Trade Com­mis­sion have be­gun in­ves­ti­ga­tions to de­ter­mine if US pro­duc­ers have been harmed by im­ports of th­ese prod­ucts from seven coun­tries, in­clud­ing South Africa. Seifsa’s chief econ­o­mist, Michael Ade, said af­fir­ma­tive deter­mi­na­tions would re­sult in anti-dump­ing or­ders and the im­po­si­tion of du­ties, in­creas­ing lo­cal steel pro­duc­ers’ ex­port costs. – ANA

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