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U.S. drops planned duties on ferrosilicon from Venezuela

WASHINGTON, Aug 26 (Reuters) - Exports of ferrosilicon from Venezuela do not harm U.S. producers, the U.S. International Trade Commission said on Tuesday, ending a bid to slap import duties on the products.

U.S. producers Globe Specialty Metals and CC Metals and Alloys had lodged a complaint alleging the products, used as an alloying agent in the production of steel and cast iron, were being sold too cheaply in the United States, or dumped.

The Department of Commerce had set duties of 22.84 percent on the products, but these will now be dropped.

In 2013, imports of ferrosilicon from Venezuela were valued at about $43.3 million.

(Reporting by Krista Hughes; Editing by Leslie Adler)