|Bid||47.37 x 0|
|Ask||47.40 x 0|
|Day's Range||47.20 - 48.63|
|52 Week Range||33.02 - 48.63|
|PE Ratio (TTM)||21.54|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||44.56|
U.S. trade officials on Friday said their anti-dumping and subsidy probe found carbon and alloy steel cut-to-length plate from eight foreign producers harms American manufacturers, locking in duties on the imports for five years. The U.S. International Trade Commission's finding applies to cut-to-length plate from Austria, Belgium, France, Germany, Italy, Japan, South Korea and Taiwan, it said in a statement on its website. In March, the U.S. Commerce Department said anti-dumping duties ranging from 3.62 percent to 148 percent would be imposed on products from the eight producers, while imports from South Korea would also face a countervailing duty of 4.31 percent.
Swedish steelmaker SSAB posted a first-quarter operating profit on Friday that exceeded analyst forecasts fuelled by a rise in sales prices and deliveries in Europe, sending its shares as much as 10 percent higher. Shares in the company, which also has operations in the United States, have climbed in the past 15 months, lifted by factors that include cost cuts, rising industrial demand and anti-dumping measures by the United States and European Union. Other U.S. and European steel producers also saw shares gain during 2016, benefiting from lower Chinese exports and more demand from automotive, energy and construction companies.
Germany urged the European Union on Friday to consider filing a complaint with the World Trade Organisation (WTO) against the United States over its plan to impose duties on imports of steel plate from five EU member states. U.S. President Donald Trump is expected to sign executive orders on Friday aimed at identifying abuses causing huge U.S. trade deficits.
The U.S. Department of Commerce made a final finding that seven foreign producers dumped certain carbon and alloy steel cut-to-length plate in the U.S. market, allowing it to impose duties ranging from 3.62 percent to 148 percent, Commerce Secretary Wilbur Ross said on Thursday. In addition, there was a final finding that South Korean imports were subsidized, leading to a countervailing duty of 4.31 percent being slapped on those products, he said at a department event. "A healthy steel industry is critical to our economy and manufacturing base, yet our steel industry today is under assault from foreign producers that dump and subsidize their exports," Ross told the audience.
The Department of Commerce made a final finding that seven foreign producers dumped certain carbon and alloy steel cut-to-length plate in the U.S. market, allowing for imposition of duties ranging from ...
The U.S. International Trade Commission said on Friday it had made a final finding that the U.S. industry was being harmed by the dumping and subsidization of imports of carbon and alloy steel cut-to-length plate from China. The investigation into the imports was prompted by a petition from Nucor Corp and U.S. subsidiaries of ArcelorMittal SA and SSAB AB. China's Ministry of Commerce, however, said issues in the U.S. steel industry were not related to Chinese imports, pointing to obsolete equipment and subsequent low yields as the reason for decreased profits.
The U.S. Commerce Department said on Wednesday it had made a final finding of dumping of certain imports of carbon and alloy steel cut-to-length (CTL) plate from China. Commerce officials said they would call on the U.S. Customs and Border Patrol to collect cash deposits equal to the dumping rate that would be refunded if the U.S. International Trade Commission later finds there has been no harm to U.S. producers. In 2015, imports of CTL plate from China were valued at an estimated $70.3 million, it said.
The U.S. Commerce Department said on Wednesday it had made a final finding of dumping of certain imports of carbon and alloy steel cut-to-length plate from China. The department said in a statement that ...