U.S. finds Russia, Belarus, UAE dumped steel wire rod

WASHINGTON, Sept 6 (Reuters) - The U.S. Commerce Department on Wednesday said it made an initial finding that carbon and alloy steel wire rod from Belarus, Russia and the United Arab Emirates are being dumped in the U.S. market, and imposed antidumping duties of up to 756.93 percent. “The dumping of goods below market value in the United States is something the Trump administration takes very seriously,” Commerce Secretary Wilbur Ross said in a statement. In 2016, imports of carbon and alloy steel wire rod from Belarus, Russia and the UAE were valued at an estimated $10.4 million, $32.3 million and $7 million respectively, the statement said.

The department said it found exporters from Belarus sold the products at 280.02 percent below fair value, those from Russia at 436.80 percent to 756.93 percent below, and those from the UAE at 84.10 percent below.

The department said it will ask U.S. customs authorities to collect duties from the exporters based on those rates.

The trade action followed petitions filed on behalf of Gerdau Ameristeel US Inc of Florida, a unit of Metalurgica Gerdau SA, Nucor Corp of North Carolina, Keystone Consolidated Industries of Texas and Charter Steel of Wisconsin.

A final antidumping decision by the department is scheduled for Nov. 21.

Wire rod is a hot-rolled intermediate steel product used in a wide variety of other intermediate and end-use goods. (Reporting by Eric Walsh; Editing by Jonathan Oatis)