Canada lifts SA steel duties

(Fin24) - The Canadian International Trade Tribunal, an independent quasi-judicial body, has lifted anti-dumping duties
on hot-rolled steel plate from South Africa and Russia, saying they aren't likely to harm Canadian steel producers.

However, the tribunal ruled that anti-dumping duties would continue on hot-rolled steel plate from China.

It stated that the "dumping of hot-rolled steel plate from South Africa and Russia is unlikely to result in injury or
retardation."

"The Canada Border Services Agency will therefore no longer impose anti-dumping duties on these products," the tribunal added.

Dumping not on

Under international trade rules, dumping occurs when products are exported or sold in another country at prices below their cost in the producer's home market.

The Canadian press said the anti-dumping duties were imposed after Hamilton-based Stelco, backed by other Canadian steel producers, brought a complaint in 1997 against several countries comprising South Africa, Russia and China, Mexico and Poland.

Since then, all of Canada's major publicly traded steel producers - Stelco, Ipsco, Algoma and Dofasco - have been bought by foreign companies and taken private, although they continue to operate.

Hot-rolled carbon steel is used in making such things as rail cars, fuel storage tanks, construction machinery, agricultural equipment, bridges, industrial buildings, high-rise office towers, automobiles and truck parts and ships.

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