Madison County Board Chairman says a recent decision by the U.S. Department of Commerce is potentially good news for the local steel industry. The DoC ruling will require cash deposits to cover imposed duties on the alleged dumping of hot-rolled steel at well below market prices in the U.S. market by seven countries.
Madison County Board Chairman Alan Dunstan tells The Big Z in the past you had to show the impact of the steel that had already been dumped.
Click here for Dunstan's comments
The duties will be held in an escrow account pending a final decision in September. While much of the focus has been on Chinese steel, the recent action is being taken against manufacturers in Australia, Brazil, Japan, Korea, the Netherlands, Turkey and the United Kingdom.